TechFlow reports, on March 31, Matrixport released a chart showing that Ethereum has cumulatively declined by 50% since reaching its peak of $3,668 on January 7, 2025. On-chain activity across the entire Ethereum ecosystem has significantly slowed down, and weakening fundamentals combined with persistently low ETH demand have led to a clearly bearish market sentiment.
With several key risk events approaching, derivatives markets have started pricing in a 10% volatility (in either direction) within the coming week. Notably, Ethereum's price is gradually approaching the lows seen during FTX's bankruptcy period. FTX is expected to begin repayments to major creditors starting May 30, 2025.
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