On March 2nd, it was reported that due to macroeconomic pressures, Ethereum’s price dropped approximately 1.5%, approaching $1,950, marking the seventh consecutive month of decline. On-chain data shows that over the past 90 days, wallets holding between 100,000 and 1 million ETH have been reducing their holdings, mostly outside of exchanges, indicating strategic position adjustments rather than short-term trading.
Market analysts note that Ethereum has broken through a key psychological level. Although there was a brief rebound, the price soon weakened again. Technical indicators show that the daily RSI is in oversold territory, funding rates have returned to normal, and open interest has decreased, reducing leverage risk in the market and suggesting that short-term selling pressure has eased.
Macroeconomic factors remain the main drivers, including inflation suppression measures that have dampened institutional investors’ interest in risk assets, making Ethereum one of the most impacted mainstream cryptocurrencies. Analysts state that the support level near the current price is a critical threshold. If ETH can hold this support and rebound to higher levels, the upward momentum could extend into previous resistance zones.
Market participants believe that this correction is primarily driven by macroeconomic conditions rather than deterioration in network fundamentals. Large whales’ continuous reduction of holdings has accelerated market volatility, but long-term holders still maintain positive positions, indicating overall market resilience. Investors are closely watching the price trend in the coming weeks, especially whether ETH will break below the $2,000 psychological level and whether a new buying opportunity will emerge.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Hyperliquid's active retail investor count has significantly increased, with a preference for high-leverage trading.
The number of active contract traders on the Hyperliquid platform is approaching its six-month high, having increased significantly since January, especially after liquidating large whale positions. Despite a decline in open interest (OI), the number of active retail traders has increased, with a preference for high-leverage trading.
GateNews1h ago
Cryptocurrencies in Picture as JPMorgan Trims Non-Oil Growth for Gulf Economies
JPMorgan has dropped the average growth of GCC by 0.3 percent points.
Cryptocurrencies are trading below expected values.
The US Dollar got stronger, and Gold surged over 24 hours.
JPMorgan has trimmed its forecast of non-oil growth for Gulf economies. This has brought cryptocurrencies into the
TheNewsCrypto1h ago
Crypto Markets Hold Ground Amid Rising Iran Tensions
Amid rising U.S.-Iran tensions, Bitcoin and Ethereum briefly declined but quickly recovered. Market resilience was shown as $300M in liquidations remained contained, with some capital shifting toward tokenized gold. Options flows indicate expectations for a March rebound despite volatility.
CryptoFrontNews1h ago
Solana Drops to $78 as Bulls Guard $75 Support
Key Insights
Solana trades near $78 after a sharp pullback, while technical indicators show momentum stabilizing around key support levels this week.
Analysts project a potential recovery toward $95 to $105 within four weeks if bulls defend the $75 zone convincingly.
Bollinger Bands and
CryptoFrontNews2h ago
The CLARITY Act is expected to pass by mid-year! JPMorgan: "8 Major Bullish Factors" ignite the cryptocurrency market in the second half of the year
JPMorgan's analysis team expects the U.S. Digital Asset Market Clarity Act (CLARITY Act) to complete legislation by mid-year, serving as a positive catalyst for the cryptocurrency market in the second half of the year. The bill will provide a clear regulatory framework for the crypto industry, promote innovation, and attract institutional investment. Once the bill is passed, it is expected to change the market structure and push Bitcoin's target price to $266,000.
区块客2h ago
Tokenized Gold Dominates Public Price Discovery Over Weekends
Tokenized gold assets, like PAXG and XAUt, are revolutionizing gold price discovery, enabling 24/7 trading and enhancing market liquidity. Their growth exemplifies how blockchain disrupts traditional finance by providing transparency and inclusivity for investors.
Coinfomania2h ago
