Ethereum’s price struggles persist as bulls fail to sustain levels above $2,000. Market analysts warn of a potential 50% drop to $1,000 if bearish momentum continues, driven by heavy profit booking from early ETH whales.
Ethereum Price Struggles to Regain $2,000
Despite a recent push by bulls, Ethereum (ETH) has been unable to maintain stability above $2,000. Crypto analyst Ali Martinez cautioned investors, urging them to zoom out and consider the bigger picture before making new entries.
According to Martinez, Ethereum’s failure to stay above $2,050 could trigger a deeper correction. His latest analysis highlights key support levels at $1,500 and $1,095. At press time, ETH was trading at $1,973, marking a 2.26% decline. The daily trading volume also dropped by over 40% to $12.21 billion, indicating reduced market participation. Additionally, ETH futures open interest dipped 4%, falling below $20 billion.
Early ETH Whale Sells 34,125 Coins
Blockchain analytics platform SpotonChain revealed that a major Ethereum whale, identified as “0x086,” secured a staggering profit of $65.66 million. The investor initially accumulated 34,125 ETH back in March 2017 at an average cost of just $46.3 per token. This entire holding was recently deposited to Coinbase at an average price of $1,970.
While some Ethereum whales are cashing out their holdings, others are transferring their ETH to staking platforms, seeking additional yield. This divergence in whale activity suggests mixed sentiment, with some long-term holders maintaining confidence in Ethereum’s future.
BlackRock’s Insights on Ethereum ETF Struggles
Ethereum’s battle to sustain momentum above $2,000 extends to institutional products as well. Despite hopes for a rally, spot Ethereum ETFs have faced persistent outflows in March 2025, signaling waning institutional confidence.
BlackRock’s head of digital assets, Robbie Mitchnick, attributed this struggle to the lack of staking options in Ethereum ETFs. He noted that staking yield is crucial in generating investment returns, making its absence a significant drawback.
In response, crypto asset manager Bitwise has filed a proposal to introduce staking in Ethereum ETFs. The New York Stock Exchange (NYSE) has also proposed amendments to accommodate staking-enabled ETFs, potentially changing the game for institutional Ethereum investments.
Also Read: Coinbase Leads Ethereum Staking with 3.84M ETH: Market Expansion Accelerates
Ethereum’s near-term outlook remains uncertain as heavy whale profit-taking and lackluster ETF performance weigh on sentiment. If bulls fail to reclaim critical support levels, ETH could face a significant drop toward $1,000. Investors remain watchful as the market navigates these turbulent conditions.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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