- Whale Capitulation Hints at Ethereum Cycle Bottom
- ETH Slides Toward $1,200 Amid Bearish Momentum
- Weak ETF Flows Signal Fading Institutional Demand
Ethereum experienced further price depreciation because it fell under the essential $1,500 support area to approach the $1,290-$1,200 trading zone. Market observers are pointing to recent whale capitulation as a potential early signal of an approaching bottom. This event, often associated with final stages of a correction, is drawing attention as Ethereum seeks price stability.
Bearish Momentum Pushes ETH Toward Key Support Levels
Ethereum has fallen over 64% from its December 2024 high of $4,100, now trading at $1,476 as of April 9, 2025. The price continues to reflect broader weakness in crypto and global risk markets.
Technical indicators remain negative, with the MACD showing bearish divergence and RSI nearing oversold territory.The price also broke below its realized price, a bearish on-chain signal indicating that many holders are now at a loss.
Historically, Ethereum tends to approach final cycle lows when this condition is met. Analysts are now monitoring the $1,290 and $1,200 levels as the next support targets.
Weak On-Chain Metrics and Spot ETF Outflows Pressure Price
Ethereum’s on-chain data reflects reduced usage and demand. Daily transactions, gas fees, and DeFi activity are all declining. According to CryptoQuant, ETH’s realized price is now above spot price—a level that has triggered capitulation in previous bear cycles.
Institutional interest is also fading. Spot Ethereum ETFs recorded over $94 million in outflows in the past two weeks, with April 8 alone seeing $3.3 million withdrawn. Reports from CoinShares show Ethereum investment products aligned with broader market outflows.
Meanwhile, activity on rival blockchains like Tron and Solana continues to grow. Ethereum’s unique active wallets fell by 33% in 30 days, while transaction volume declined by over 40%. These factors may continue to weigh on Ethereum’s price until broader sentiment shifts.
