ETH/USD: Ether Crawls Back from $1,750 After Brutal Selloff Fueled by Downturn Jitters

Second-largest token washed out all its gains made in 2024 and hit a low not seen since November 2023. It’s now down 55% from its recent high. 🤕 Ether Down Big TimeEthereum was on its way back from a low of $1,750 per token after crypto traders joined stock holders in a that bruised nearly every bull out there. The second-largest coin early Tuesday hit a bottom not seen since November 2023 but later pared back some of the loss. And so here we are — an Ether was going for around $1,915 as digital asset enthusiasts put in every effort to support the upside momentum. In other words, buying the dip was in full swing. 😣Recession Fears SwirlThe battering came after Donald Trump stayed tight-lipped when a reporter asked him if he believed the US was heading into a recession. Not ruling out the possibility of an economic downturn churned the waters and led to more than a trillion dollars wiped out from global markets. As to crypto — an asset class that’s increasingly correlated to other risky markets — the market cap of all digital assets slumped about 4% before picking up the pace and settling near a valuation of $2.7 trillion. ➡️ Look Across the BoardBitcoin shifted lower to erase all post-election gains when prices dipped to $78,000. That is, before the ambition and adrenaline kicked in and the OG coin was back above $81,000 a pop Tuesday morning. Other major tokens were climbing higher too. Solana reclaimed $125 after falling as low as $110 a piece. XRP nosedived to $1.90 before reversing some of the losses to trade near $2.15. Dogecoin couldn’t gain enough traction and was languishing near its recent lows around 15 cents.