ETH/USD: Ethereum Stabilizes Near $3,000 After Bruising 40% Drop from Record

Second-largest token isn’t in a good mood. After peaking at a record high of $5,000, it’s shed 40%, or $2,000 in less than three months.

🔥 Painful Round Trip Back to July

• Ethereum ETHUSD is limping into midweek, stabilizing near $3,000 after a brutal and relentless slide has erased nearly 40% of its value since the token’s late-August record just shy of $5,000.
• Ether’s pullback has dragged the price back to levels not seen since midsummer – a staggering reset for a token that only weeks ago looked poised to break into a higher orbit.
• The decline reflects a broad risk-off wave ripping through crypto, where leverage unwinds, forced selling and collapsing sentiment have taken center stage.

🔔 Bitcoin Isn’t Helping, Either

• Ethereum isn’t alone in the pain trade: Bitcoin BTCUSD is lower by 30% from its record, now hovering near $91,000.
• The synchronized drop is a clear sign investors are stepping back from all high-beta assets, not just individual tokens.
• Both coins are now in deep-correction territory, raising questions about whether this is a healthy reset or a deeper structural shift.

🌡️ What Traders Are Watching Next

• Risk appetite globally remains fragile, and with equities wobbling and AI stocks under scrutiny, crypto is feeling the pressure.
• Ether sits near psychological and technical support around $3,000 – a level bulls desperately need to defend to avoid triggering another wave of liquidations.
• Without a positive catalyst, such as improving macro data or a rebound in Bitcoin dominance, price action may stay choppy and directionless.