Dark February for Ethereum (ETH), Will it Record the Worst Decline?

Jakarta, Pintu News—A broad correction in the crypto market has dragged the price of Ethereum (ETH) down sharply by 8% today to below $2,500.

As the world’s largest altcoin, Ethereum (ETH) is on track to record its worst performance in February, dropping more than 23%.

The recent Bybit exchange hack has also worsened sentiment towards Ethereum (ETH). However, market analysts still hope for a potential upswing in the future.

Check out the full news here!

Ethereum’s Worst Performance in February?

On-chain data from SpotOnChain shows that the Ethereum (ETH) price could record its worst performance in February if it falls below $2,400. February has historically been a bullish month for Ethereum (ETH), with only one drop recorded in 2018.

However, the current decline of 23% threatens to break that trend. This sharp drop in the price of Ethereum (ETH) comes despite on-chain data suggesting that investor interest hasn’t quite subsided. Instead, Ethereum whales have shown signs of strong accumulation.

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Market Analyst Optimism Remains High

Despite the significant drop in the price of Ethereum (ETH), on-chain data shows that investor interest remains high. Ethereum whales, for example, continue to accumulate large amounts, showing confidence in the long-term value of Ethereum (ETH).

Despite a sharp price drop, market analysts remain optimistic about the prospects for Ethereum (ETH). They believe that fundamental and technical factors still support the potential for future price increases.

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Bybit Repays $100 Million ETH Loan

Following last weekend’s hack, crypto exchange Bybit has taken swift steps to stabilize its operations by acquiring 100% of Ethereum (ETH) within 48 hours of launch.

According to on-chain data from Arkham Intelligence, Bybit has repaid the Bitget exchange a $100 million Ethereum (ETH) loan of 40,000 units.

This payment, which was completed in just three days, emphasizes Bybit’s swift handling of financial obligations following recent market events. Bybit’s swift action in addressing its financial obligations demonstrates the exchange’s commitment to maintaining user confidence and market stability.

Conclusion:

Although Ethereum (ETH) had a difficult month, with the worst potential drop in February, many factors still favour its long-term prospects. With strong interest from whales and the crypto exchanges’ quick response to the crisis, Ethereum (ETH) may still have plenty of room for recovery and growth.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coingape. Will Ethereum Price End February with Worst Performance So Far?. Accessed on February 25, 2025
• Featured Image: Decrypt