{
    "id": 61819,
    "date": "2026-02-25T09:41:43",
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    "slug": "eth-bounces-off-1-8k-as-multiple-ether-price-metrics-point-to-prolonged-weakness",
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        "rendered": "ETH bounces off $1.8K as multiple Ether price metrics point to prolonged weakness"
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        "rendered": "<div data-testid=\"html-renderer-container\">\n<p data-ct-non-breakable=\"undefined\"><strong>Key takeaways:<\/strong><\/p>\n<ul>\n<li>\n<p data-ct-non-breakable=\"undefined\">ETH futures liquidations reached $224 million after a 9% price drop, while the network\u2019s onchain activity fell to a 12-month low.<\/p>\n<\/li>\n<li>\n<p data-ct-non-breakable=\"undefined\">ETH\u2019s high correlation with Bitcoin and massive outflows from exchange-traded funds suggest further downside risk for Ether price.<\/p>\n<\/li>\n<\/ul>\n<p>Ether (<a href=\"http:\/\/cointelegraph.com\/ethereum-price\">ETH<\/a>) plunged to $1,800 on Tuesday, wiping out $224 million in leveraged bullish positions over 48 hours. This 14% price slide over the last 10 days has left top traders defensive. Options and futures data, sluggish onchain activity, and steady outflows from Ether spot exchange-traded funds (ETFs) all point to a shaky floor at $1,800.<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c9163-cd23-7087-af5d-530ef36c0027.png\" title><figcaption><em>ETH options put-to-call volume premium at Deribit. Source: <\/em><a href=\"http:\/\/laevitas.ch\" rel=\"nofollow noopener\" target=\"_blank\" title=\"http:\/\/laevitas.ch\"><em>laevitas.ch<\/em><\/a><\/figcaption><\/figure>\n<p>After demand for put (sell) and call (buy) options stayed fairly balanced from Monday through Saturday, things shifted quickly on Tuesday. The ETH put-to-call volume premium jumped to 2.2x, showing a sudden scramble for downside protection. While some might have sold puts to bet on a price bounce, the broader market seems to be bracing for more volatility.<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c9163-d191-791e-9996-0e9b487a1b15.png\" title><figcaption><em>ETH 30-day options delta skew (put-call) at Deribit. Source: laevitas.ch<\/em><\/figcaption><\/figure>\n<p>The options delta skew (put-call) sat at 18% on Tuesday, meaning puts were trading at a clear premium. This lopsided demand shows that hedging is the priority right now. There is a real lack of confidence here, even with ETH sitting 63% below its all-time high. A lot of this frustration comes down to some pretty weak onchain numbers.<\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c9163-d5f6-788a-96c5-da4540c1043f.png\" title><figcaption><em>Ethereum network TVL &#038; weekly chain fees, USD. Source: DefiLlama<\/em><\/figcaption><\/figure>\n<p>The total value locked (TVL) on Ethereum has slipped to $51 billion, which is the lowest level seen since May 2025. With fewer deposits hitting decentralized applications (DApps), network fees have taken a hit to $13.7 million over the last 30 days. That is a far cry from the $33 million average seen in late 2025. Traders are worried that ETH demand for data processing won\u2019t return anytime soon.<\/p>\n<p>Even though it was expected, the recent $7 million in ETH sales <a href=\"https:\/\/cointelegraph.com\/news\/vitalik-buterin-reduces-eth-balance-17k-after-45m-privacy-pledge\">linked to Ethereum co-founder Vitalik Buterin<\/a> haven\u2019t helped the mood. The Ethereum co-founder earmarked ETH 16,384 of his personal holdings in January as donations to fund privacy-focused technologies, open source hardware and secure, verifiable software systems. Still, the optics of the move added another layer of bearish pressure to an already shaky week.<\/p>\n<p><a href=\"https:\/\/cointelegraph.com\/news\/crypto-etp-five-week-exit-fresh-288-million-outflows\">Outflows from Ether ETFs<\/a> have only made things worse for investor sentiment. Usually, this kind of movement means institutional players are losing interest.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/news\/longest-ether-dip-since-2022-ignored-by-whales-what-s-next-for-eth\"><em><strong>Longest Ether dip since 2022 ignored by whales\u2013What\u2019s next for ETH?<\/strong><\/em><\/a><\/p>\n<figure>    <img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c9163-daf7-78d7-adf3-37ff8a68bd44.png\" title><figcaption><em>US-listed Ether ETFs&#8217; daily net flows, USD. Source: Farside Investors<\/em><\/figcaption><\/figure>\n<p>The US-listed Ether ETFs have seen $405 million in net outflows since Feb. 11, which has pushed total assets under management down to $12.4 billion. This shift happened right as gold prices climbed above $5,150. In fact, gold ETFs pulled in $822 million in the week ending Feb. 20, according to gold.org.\u00a0<\/p>\n<p>Ether\u2019s weak onchain and derivatives data is not a guaranteed death sentence. However, the fact that whales and market makers seem to be bracing for more downside definitely fuels the bearish mood. Ether\u2019s price is also stuck to Bitcoin (<a href=\"http:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) right now as the assets\u2019 20-day correlation has stayed above 95% for the last three weeks.<\/p>\n<p>The ETH drop to $1,800 has created a bit of a loop, where traders are still guessing at what is really driving this crypto bear market. That uncertainty is forcing traders to sell at a loss, and the situation may not change while professional traders display fear. Until those derivatives metrics stabilize, the <a href=\"https:\/\/cointelegraph.com\/news\/ethereum-price-risks-1-5k-vitalik-buterin-sells-9k-eth\">odds of ETH sliding further<\/a> are still on the table.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>\n<p data-testid=\"post-category-disclaimer\"><span>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.<\/span><\/p>",
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        "rendered": "<p>Key takeaways: ETH futures liquidations reached $224 million after a 9% price drop, while the network\u2019s onchain activity fell to [&hellip;]<\/p>",
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