February 2 News, Ethereum (ETH) price fell below $2,195 on Monday evening, with a single-day decline of over 10%, marking the largest single-day pullback since October 2025. This drop directly triggered large-scale liquidations, and market sentiment quickly shifted to caution. Data shows that ETH’s current market capitalization is approximately $268.8 billion, accounting for about 10.5% of the entire cryptocurrency market, significantly down from its historical peak of $583.9 billion.
Trading activity has also increased, with Ethereum’s trading volume in the past 24 hours approaching $42.7 billion, nearly 30% of the total market volume. The price has fluctuated sharply between $2,195 and $2,322, with the market cap decreasing by over 22% in the past week. Compared to the all-time high of $4,956 set in August 2025, ETH is currently in a decline of over 55%.
Leverage traders have become the main victims of this round of decline. Statistics show that over $180 million worth of Ethereum-related positions were forcibly liquidated in the past 24 hours, with long positions making up the majority. As the price broke below the key support level of $2,200, margin shortages triggered chain reactions of selling, further amplifying the downward movement. On-chain data indicates that long-term holder addresses have not shown significant activity, and the selling pressure mainly comes from short-term and high-leverage funds.
Bloomberg analyst Mike McGlone pointed out that if macro uncertainties and high financing costs persist, Ethereum’s price could continue to approach the $2,000 or even $1,950 region. He believes that the $2,000 and $1,800 levels are important technical support zones; if these are broken, it could trigger a new round of liquidations.
Currently, the entire cryptocurrency market remains under pressure. The simultaneous weakness of Bitcoin has also increased ETH’s vulnerability. Traders are closely watching whether an oversold rebound or technical correction will occur; otherwise, there is still a risk of further downside in the short term.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BitMine(BMNR) Perpetual Contracts will launch globally on Gate on March 18th, supporting 1-20x leverage trading
Gate News bot message, according to Gate official announcement on March 18, 2026
Gate's contract stock section will launch the BMNR (BitMine) perpetual contract live trading for the first time on March 18, 2026 at 18:00 (UTC+8). It will use USDT settlement and support 1-20x long and short operations. Users can choose their leverage ratio when placing orders.
BMNR is the stock ticker for BitMine Immersion Technologies, Inc., a company that primarily holds cryptocurrency assets such as Ethereum (ETH).
GateAnnouncement7m ago
Bitcoin Consolidates at $74,000, Ethereum Stable at $2,300! "750,000 People Liquidated" on Eve of FOMC
Bitcoin is trading sideways around $74,000, while Ethereum shows a slight rebound. Over the past 24 hours, the network experienced liquidations of $265 million, with long positions dominating. The market is awaiting the Federal Reserve's FOMC interest rate decision, with sentiment cautious and awaiting developments.
動區BlockTempo1h ago
Vitalik Buterin Introduces Ethereum’s Fast Confirmation Rule to Boost Transaction Speed
Vitalik Buterin has introduced a Fast Confirmation Rule for Ethereum, promising to reduce transaction wait times significantly, ensuring finality within 12 seconds. This mechanism aims to enhance user trust and capital efficiency without requiring a network hard fork.
TheNewsCrypto1h ago
Citigroup Slashes Bitcoin and Ethereum 12-Month Price Targets, Citing Stalled U.S. Crypto Legislation Weighing on Upside Catalysts
Citigroup has lowered its 12-month price targets for Bitcoin and Ethereum, signaling a shift toward caution on the cryptocurrency market's medium-term outlook, primarily due to slow progress in U.S. crypto asset legislation. Bitcoin's target was reduced from $143,000 to $112,000, while Ethereum's fell to $3,175. Despite upside potential remaining in the future, the lack of new policy catalysts suggests prices may oscillate within a range in the near term. Citigroup's assessment of Ethereum is more cautious, as it believes the asset is more significantly impacted by on-chain activity.
区块客1h ago
neoyokio.eth Whale holds 4x leverage ASTER long position with $2.7 million unrealized gains, return rate 56.4%
neoyokio.eth whale's ASTER long position on Hyperliquid platform has expanded unrealized gains to $2.7 million with a return rate of 56.4%. After the whale's initial entry at $0.69, it added positions against the trend, reducing the average holding cost to $0.636. Recently ASTER surged to $0.78, now pulling back to $0.737.
GateNews2h ago
