February 2 News, Ethereum (ETH) price fell below $2,195 on Monday evening, with a single-day decline of over 10%, marking the largest single-day pullback since October 2025. This drop directly triggered large-scale liquidations, and market sentiment quickly shifted to caution. Data shows that ETH’s current market capitalization is approximately $268.8 billion, accounting for about 10.5% of the entire cryptocurrency market, significantly down from its historical peak of $583.9 billion.
Trading activity has also increased, with Ethereum’s trading volume in the past 24 hours approaching $42.7 billion, nearly 30% of the total market volume. The price has fluctuated sharply between $2,195 and $2,322, with the market cap decreasing by over 22% in the past week. Compared to the all-time high of $4,956 set in August 2025, ETH is currently in a decline of over 55%.
Leverage traders have become the main victims of this round of decline. Statistics show that over $180 million worth of Ethereum-related positions were forcibly liquidated in the past 24 hours, with long positions making up the majority. As the price broke below the key support level of $2,200, margin shortages triggered chain reactions of selling, further amplifying the downward movement. On-chain data indicates that long-term holder addresses have not shown significant activity, and the selling pressure mainly comes from short-term and high-leverage funds.
Bloomberg analyst Mike McGlone pointed out that if macro uncertainties and high financing costs persist, Ethereum’s price could continue to approach the $2,000 or even $1,950 region. He believes that the $2,000 and $1,800 levels are important technical support zones; if these are broken, it could trigger a new round of liquidations.
Currently, the entire cryptocurrency market remains under pressure. The simultaneous weakness of Bitcoin has also increased ETH’s vulnerability. Traders are closely watching whether an oversold rebound or technical correction will occur; otherwise, there is still a risk of further downside in the short term.
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
ETH 15-minute rally up 1.25%: On-chain capital inflows and derivatives short covering converge to drive the move
2026-04-07 21:00 to 21:15 (UTC), the ETH price’s return within 15 minutes reached +1.25%, with the candlestick price range from 2115.51 to 2152.7 USDT and a swing of 1.76%. During this period, overall market attention increased, liquidity of funds rose, and volatility intensified.
The main driver of this abnormal move is the on-chain inflow of funds and the simultaneous rise in active trading volume. Combined with concentrated short positions in the derivatives market and negative funding rates, the market triggered large-scale short covering driven by spot buy-side participation, which became the core factor behind the rapid price increase
GateNews45m ago
ETH breaks through 2150 USDT
Gate News bot message, Gate market data shows, ETH has broken through 2150 USDT, and the current price is 2150.09 USDT.
CryptoRadar50m ago
ETH jumps quickly up 0.89%: Institutional fund inflows and ETF rotation drive a short-term rebound
During the period from 2026-04-07 19:45 to 2026-04-07 20:00 (UTC), ETH saw a clear price anomaly. The candlestick return was +0.89%, with the price fluctuating in the range of 2093.98 to 2116.59 USDT, and the amplitude reached 1.08%. In a short time, both trading volume and on-chain activity increased, overall market attention rose, and movements of major capital inflows became closely watched.
The main drivers behind this anomaly were stronger buy-side pressure from large capital that concentrated inflows into exchanges and enhanced active buying by institutions or whales. Glassnode minute-level
GateNews2h ago
Cysic’s Venus zkVM goes open source as Ethereum eyes proof markets
Cysic open‑sources its Venus zkVM engine, recasting proof generation as a global computation graph and positioning ZisK inside Ethereum's emerging EIP‑8025 proof market.
Summary
Venus replaces a traditional hardware abstraction layer with a graph‑based view of the entire proving pipeline,
Cryptonews3h ago
ETH breaks through 2100 USDT, the 24-hour drop narrows to 1.7%
Gate News message, April 7, according to a certain CEX quote, ETH has broken above 2100 USDT and is now reported at 2100.24 USDT, with the 24-hour decline narrowing to 1.7%.
GateNews4h ago
