Ethereum Price Plummets, Threatening Record Low as Bearish Patterns Intensify

Ethereum’s price has experienced a sustained downward trajectory for three consecutive weeks, plummeting to levels unseen since early 2020. The ETH/BTC pairing currently hovers near its lowest point ever recorded at 0.019, down over 80% from its peak in December 2021. This decline marks a significant departure from last year’s highs of $4,000 and has resulted in Ethereum’s market capitalization dominance falling by 67%, nearly approaching the levels of 2022.