Ethereum (ETH) Freefalls Below $2,500, Crypto Analysts Forecast $2,000 Break?

Jakarta, Pintu News – The first half of the day saw heavy pressure on the crypto market, as Ethereum continued its decline and briefly moved around $2,370. In 24 hours, ETH corrected 12.27%, while the weekly and monthly declines are close to 20% and 21% respectively.

This weakness comes as Bitcoin slumps, triggering a wave of liquidations, ETF outflows, and whale activity that adds to the selling load. Amidst the situation, BitMine’s Ethereum (ETH) position attributed to Tom Lee is said to have suffered unrealized losses of around $6 billion.

Analysts Target $2,000-$1,800 Area as Next Support

A number of analysts think that the space for Ethereum (ETH) to decline is still open if the pressure continues. Jake Wujastyk mentioned the potential $1,800 to $1,850 area as a target if the impact of the decline deepens. This view comes after Bitcoin (BTC) fell about 6% and triggered liquidations of about $1.6 billion. Such conditions usually accelerate sell-offs as leveraged positions are forced to close.

G. Martin added that the long-term structure of Ethereum (ETH) is considered relatively stronger than that of Bitcoin (BTC), although the price remains weak. However, he emphasized that most indicators, including price movements, still point to a continued downtrend.

As long as Bitcoin (BTC) has not shown any structural improvement, Ethereum (ETH) is likely to remain under pressure. He highlighted the $2,000 to $2,200 area as a support zone, with further attention to $1,600 to $1,800 if selling gets aggressive.

Read also: Ethereum in danger of collapsing again? Peter Brandt sounds the alarm, Vitalik withdraws 16,384 ETH!

Whale Activity and Flows to Exchanges Strengthen Selling Pressure

Whale activity and the movement of funds to exchanges also reinforce the narrative of short-term pressure on Ethereum (ETH). Reports said $44 million worth of Ethereum (ETH) was withdrawn by Ethereum co-founder Vitalik Buterin while the price was still in a weak phase.

Events like these often trigger market speculation, though not necessarily outright sell-offs. At the same time, investors’ attention is drawn to asset inflows to exchanges, which are often associated with the intention to offload holdings.

Lookonchain revealed that Garrett Jin, known as a long-term Bitcoin (BTC) holder, deposited 3,183 Ethereum (ETH) worth approximately $8.04 million into Binance. The deposit is seen as a signal of potential distribution, especially after his long Ethereum (ETH) position was liquidated.

The position, which was valued at more than $700 million, ended up with a loss of around $250 million, having previously been trimmed to around $472 million. In addition, analyst Ali reported that more than 60,000 Ethereum (ETH) or nearly $174 million moved to exchanges in 72 hours, in line with the sharp price drop.

Read also: Kevin Warsh is the strongest candidate for Fed Chair, why did Bitcoin immediately shake?

BitMine’s $6 Billion Loss and ETF Outflows Hit Sentiment

Another highlight comes from BitMine which is associated with Tom Lee, as the company’s Ethereum (ETH) position is said to bear unrealized losses of around $6 billion. BitMine started accumulating Ethereum (ETH) when the price was around $2,540 on January 30, 2025. A year later, the price of ETH dropped to below the initial purchase level, depressing the value of the portfolio.

In the past week alone, BitMine reportedly added 40,302 Ethereum (ETH), signaling that the accumulation strategy continues despite the market weakness. On the institutional fund flow front, Ethereum (ETH) ETFs also registered pressure through outflows. SoSoValue data showed weekly net outflows of around $327 million, which added weight to sentiment.

In terms of exchange netflows, the decline since January 19 appears to be in line with consistent changes in inflows and outflows, rather than a single event. The surge of around $120 million on January 25-26 and nearly $150 million on January 31, which coincided with the decline towards the $2,400 area, shows how fund flow pressure shapes short-term price behavior.

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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 are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• CoinGape. Expert Predicts Ethereum Crash Below $2K As Tom Lee’s BitMine ETH Unrealized Loss Hits $6B. Accessed on February 2, 2026
• Featured Image: Generated by AI