Ethereum’s price has plummeted, falling below $2,000, a low not seen since May of last year, marking a 50% drop from its peak. This decline is fueled by a broader crypto market downturn and sales by co-founder Vitalik Buterin, who sold ETH to fund privacy projects. Despite these sales, Buterin remains a major ETH holder and expresses optimism for the network’s future. Spot Ethereum ETFs are experiencing outflows, and investors have sold billions in ETH since November. Technical analysis points to further potential downside, with $1,500 as the next key support level to watch.
