$ETH Speculators fear the leading altcoin could face a death spiral as its month-long decline threatens a support level that has marked Ethereum bottoms since 2020.

As the bull market matures, economic concerns—Trump’s “tariff war,” NATO tensions, and recession fears—have taken center stage, dragging ETH down 24% this month.

Retail liquidity has dried up under heavy market FUD, and panic selling is running rampant—half of holders now face unrealized losses, according to IntoTheBlock data.

Could Ethereum Lose its Claim to the Altcoin Throne?

Investment bank Standard Chartered has slashed its end-of-year Ethereum forecast by 60% to $4,000, raising questions about its standing in the “best crypto to buy” conversation.1742399310-image-1742399303733.jpg

The bank attributes much of Ethereum’s decline to the rapid expansion of Layer 2 solutions like Base.