ETH/USD: Ethereum Stabilizes Near $3,000 After Bruising 40% Drop from Record
Second-largest token isn’t in a good mood. After peaking at a record high of $5,000, it’s shed 40%, or $2,000 in less than three months. 🔥 Painful Round Trip Back to JulyEthereum is limping into midweek, stabilizing near $3,000 after a brutal and relentless slide has erased nearly 40% of its value since the token’s late-August record just shy of $5,000. Ether’s pullback has dragged the price back to levels not seen since midsummer – a staggering reset for a token that only weeks ago looked poised to break into a higher orbit. The decline reflects a broad risk-off wave ripping through crypto, where leverage unwinds, forced selling and collapsing sentiment have taken center stage. 🔔 Bitcoin Isn’t Helping, EitherEthereum isn’t alone in the pain trade: Bitcoin is lower by 30% from its record, now hovering near $91,000. The synchronized drop is a clear sign investors are stepping back from all high-beta assets, not just individual tokens. Both coins are now in deep-correction territory, raising questions about whether this is a healthy reset or a deeper structural shift. 🌡️ What Traders Are Watching NextRisk appetite globally remains fragile, and with equities wobbling and AI stocks under scrutiny, crypto is feeling the pressure. Ether sits near psychological and technical support around $3,000 – a level bulls desperately need to defend to avoid triggering another wave of liquidations. Without a positive catalyst, such as improving macro data or a rebound in Bitcoin dominance, price action may stay choppy and directionless.