Ether Price Drops 43% Year-to-Date Amid Record Selling Activity

Ether (ETH) has declined 43% year-to-date, dropping from a high of $3,744 to $1,899. Key points include:

Record levels of active selling over the past three months, the highest in five years, according to CryptoQuant CEO Ki Young Ju.
The ETH/BTC ratio has reached a five-year low, with a negative four-year compound annual growth rate (CAGR) against Bitcoin, as reported by CoinDesk.
ETH's price dipped below $1,900 only a few times since 2020; purchases made between June 2022 and October 2023 would be profitable.
Short-term holders are experiencing significant realized losses, while long-term holders are also starting to capitulate, according to Glassnode data.
Realized losses have been predominantly from whales holding 100,000 ETH or more, especially since February.