Ethereum Market Update: Volatility Spikes as ETH Struggles to Hold Key Support
Ethereum (ETH) has been under heavy selling pressure, dropping to a two-year low of $1,410 on April 7 before rebounding above $1,500. The move triggered over $370M in leveraged liquidations in just 48 hours, highlighting heightened volatility across the crypto market.
The ETH/BTC pair has been in free fall, hitting 0.01896 BTC—a level not seen in years—as Ethereum continues to underperform against Bitcoin. This marks the fifth consecutive monthly red candle for the pair in 2025, down over 50% year-to-date.
One of the biggest stories this week was a whale liquidation: a massive $105M position was wiped out as ETH slipped to $1,460, despite attempts to prevent it by adding more collateral. This event shook investor confidence and added fuel to the bearish momentum.
The Ethereum MVRV ratio has dropped to 0.87—its lowest point since 2022—indicating that many holders are now underwater. Historically, MVRV dips below 1 have signaled potential accumulation zones, but macro sentiment remains cautious.
What's Next?
Analysts are split. Some warn of a potential slide to $1,000 if current support fails, especially with further liquidations looming. Others believe the dip could be a setup for a major bounce, eyeing a recovery toward $3,400 if bullish momentum returns.
Stay sharp—ETH's next move could set the tone for the broader altcoin market this month.
