The cryptocurrency market remains in a phase of strong sell-off, and ether has become one of the main focal points of this correction. In just seven days, ETH lost nearly 30% of its value, recording one of the weakest performances among the top 10 projects.
The ETH/USD rate fell below $2,000 for the first time since May 2025, dropping to $1,740, marking a 9-month low. Although the price briefly bounced back to around $1,980, the market structure remains clearly bearish.
The price declines were accompanied by a sharp outflow of capital from the derivatives market. Over the week, open interest in ETH contracts decreased by more than $15 billion, and in the last 24 hours, positions worth over $414 million were liquidated (of which ~287 million USD were longs).
Additional pressure was exerted by outflows from American spot ETFs on ETH, which reached a net of $1.1 billion over two weeks.
Technical warnings
ETH broke through several key levels in a short time:
200-week moving average (SMA),
psychological barriers 3,000 USD and 2,000 USD.
The previous sustained drop below the 200-week SMA (March 2025) ended with an additional 45% discount. Analysts at Lookonchain indicate potential price attraction zones in the regions of 1,500, 1,300, and 1,000 USD, before the market attempts to build the bottom of this bear market.
