Ether Falls to Eight‑Month Low as Crypto Rout Deepens
Ether (ETH) plunged as much as 10% on Thursday to $1,911, marking its lowest intraday level since May as a broader cryptocurrency selloff intensified. ETH is down about 20% so far in February and has posted negative monthly returns since September, poised for six consecutive months of losses — the longest streak since Bloomberg began tracking the token in 2018. The token has lost roughly 60% from last year’s peak, wiping out about $345 billion of market value. The rout reflects sustained selling pressure across the crypto market and heightened bearish sentiment among traders.
Bearish
The article documents a sharp intra‑day drop in Ether (≈10%) and highlights extended monthly losses (six consecutive months) and a roughly 60% decline from last year’s peak. These facts point to sustained selling pressure and deteriorating market sentiment, which is typically bearish for short‑term price action. Traders are likely to reduce risk exposure, increase stop‑loss activity, and see reduced liquidity as holders either realize losses or await clearer macro/catalyst signals. Historically, prolonged multi-month drawdowns in major tokens (e.g., 2018 crypto bear market) lead to increased volatility, capitulation phases, and a risk‑off environment that can exacerbate downward moves before stabilization. Longer term, recovery depends on renewed catalyst events (regulatory clarity, macro stabilization, on‑chain fundamentals) — absent such positives, the downtrend may persist. Therefore, expect continued downside pressure and caution among traders in the near term, with potential for volatility spikes and intermittent relief rallies.