Ethereum’s value has plummeted to a stomach-churning $2,000, marking its lowest point since November 2023. The cryptocurrency has shed a painful 15% in just 24 hours, extending its 2025 losses to a whopping 36%. Not a great look for what was once crypto’s golden child. This freefall has investors clutching their pearls (and their wallets) as ETH threatens to deliver its worst first-quarter performance in history.
The bloodbath isn’t pretty. A staggering $165 million in long positions got wiped out in just 12 hours, with total liquidations climbing to $209 million in a day. One particular major whale has reportedly been profiting significantly from shorting Ethereum, accumulating over $81 million in unrealized gains as prices continue to decline. Open interest? Down nearly 11% to $18.8 billion. Ouch. The entire crypto market is feeling Ethereum’s pain as it drags everything down with it. Talk about being a bad influence.
Institutional investors are heading for the exits. Ether spot ETFs recorded $335 million in outflows last week, with BlackRock’s ETHA alone hemorrhaging $164 million. Those shares have tanked nearly 40% since January. So much for institutional confidence. The reduction in institutional adoption directly impacts market sentiment, creating a negative feedback loop for prices. Guess the smart money isn’t feeling so smart right now.
Technical indicators aren’t offering much comfort. With a neutral RSI of 34.71 and the price testing critical support at $2,000, the outlook is grim. Polymarket gives a 76% chance of ETH hitting $1,900 by month-end. A troubling bearish trend line is forming that signals increasing selling pressure on the horizon. Break that $2,000 level, and things could get even uglier. Fast.
Multiple culprits are behind the massacre. Trump’s trade war threats, macroeconomic jitters, and investors running scared from anything remotely risky. Compared to Bitcoin, ETH looks like the wimpy kid who can’t keep up.
The fear is palpable. With the Fear & Greed index at a terrifying 15 and 90% of indicators screaming “sell,” the sentiment couldn’t be more bearish. ETH has fallen far from its all-time high of $4,867. The question now isn’t if there’s blood in the streets—it’s how much more will flow.
