Ethereum loses $100B in brutal weekly slide

Ethereum lost about $100 billion in market value over the past week as its price fell nearly 27% to around $2,107, the lowest level since May 2025.

The sell-off took Ethereum’s market capitalisation from roughly $365 billion on Jan. 28 to about $265 billion by Feb. 4, making it the weakest performer among the top ten cryptocurrencies.

Market pressure intensified after reports that BlackRock moved roughly $170 million worth of bitcoin and ether to Coinbase Prime, a transfer that historically has unsettled investors amid fears of institutional selling.

The broader decline has also unfolded against a backdrop of persistent macroeconomic uncertainty, including geopolitical tensions and sticky inflation that have weighed on risk assets.

Despite falling prices, on-chain data shows Ethereum’s validator entry queue has stretched to about 71 days, pointing to sustained demand for staking even during the downturn.

Analyst Ali Charts said historical patterns suggest a potential “cycle bottom” could form just below $1,959, implying the asset is approaching a key long-term support zone.

Technical indicators remain mixed, with Ethereum entering oversold territory on the RSI while analysts warn ongoing “liquidation pressure” means a clear price floor has yet to be confirmed.

At the time of reporting, Ethereum price was $2,122.69.