Ethereum is facing its worst February in years, with prices plummeting as low as 25% amid mounting uncertainty.<\/p>\n
The cryptocurrency dumped to a multi-week low of just over $2,300 hours ago before staging a minor recovery.<\/p>\n
According to Spot on Chain<\/a>, February is usually a bullish month for ETH, with only one red example in 2018. However, this year seems to be an exception.<\/p>\n Macroeconomic factors, including new tariffs from U.S. President Donald Trump, are contributing to the instability.\u00a0They have raised fears of a tighter global economic climate while also putting traditional markets under pressure. This has, in turn, impacted risk assets like crypto, pushing ETH into a sub-$2,400 level.<\/p>\n A recent security breach on the Bybit exchange that resulted in the theft of $1.4 billion in crypto (mostly ETH) also contributed to market instability. In the immediate aftermath of the hack, ETH lost 7% of its value. Since then, the exchange has restored its reserves by securing 446,870 ETH through whale deposits, loans, and direct purchases.<\/p>\n The company\u2019s CEO, Ben Zhou, confirmed that it has fully\u00a0recovered losses<\/a> and is preparing an audited proof-of-reserves report to reassure users. However, this has done little to invigorate ETH, with the cryptocurrency struggling to break above $2,800, indicating persistent bearish pressure.<\/p>\n Earlier today, ETH dumped to $2,310 before recovering some ground to almost $2,400. Furthermore, the asset has failed to maintain key support levels in the last seven days, sparking concern about further declines.<\/p>\n Looking at its monthly performance, ETH started February at $3,217 but has since lost more than $800 in value. Over the week, it fell 7.3%, amplifying bearish sentiment. Its 24-hour movement has not been much better, shaving off more than 14% of its daily high of $2,733 to its current price, per data<\/a> from CoinGecko.<\/p>\n Analysts have warned<\/a> that with the altcoin failing to hold $2,400, its next major support lies at $2,250, potentially opening the door for further losses.<\/p>\n Ethereum\u2019s woes aren\u2019t isolated. Bitcoin, the number one cryptocurrency by market capitalization, has also struggled<\/a>, dropping below $90,000 despite Strategy (formerly MicroStrategy) recently buying<\/a> a whopping $1.99 billion worth of the cryptocurrency.<\/p>\n The post Ethereum (ETH) Price Sinks Below $2,400 Amid February Market Uncertainty<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum is facing its worst February in years, with prices plummeting as low as 25% amid mounting uncertainty. The cryptocurrency dumped to a multi-week low of just over $2,300 hours ago before staging a minor recovery. A Red February According to Spot on Chain, February is usually a bullish month for ETH, with only one […]<\/p>\n","protected":false},"author":0,"featured_media":47506,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47505"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47505"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/47506"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ETH Down 14% in 24 Hours<\/h2>\n