Ethereum (ETH) Price Flashes Death Cross After 25% Crash as MVRV Hits 2022 Levels

Ethereum (ETH) has shed 25% this week as it collapsed from a high of $2,930. The brutal sell-off has pushed ETH price to revisit the $2,000 psychological level. This downtrend is due to Bitcoin’s (BTC) nosedive that has pushed it below $80,000 for the first time since November 2024. The bearish sentiment and fears of a bear market are emphasized even more for Ethereum price due to the formation of Death Cross, a well-known sell signal. Additionally, investors who bought ETH a year ago are also facing huge losses, as noted by the MVRV indicator, which has dipped to 2022 levels.