NewsBTC
Feb 25, 2025
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Ethereum Drops 11.4% Amid Market Downturn, Bullish Signals Identified

2 min

Ethereum (ETH) dropped 11.4% in 24 hours, with Bitcoin (BTC) declining by 8%, XRP by 13.6%, and Solana (SOL) by 12.9%. Despite the downturn, CryptoQuant CEO Ki Young Ju shared a bullish outlook on ETH.

Key Points from Ki Young Ju

  • No significant sell pressure detected despite the Bybit hack.
  • Ethereum holds a 56% share of the stablecoin market cap.
  • Potential regulatory changes under the Trump administration could boost ETH adoption by 2025.
  • ETH spot ETF approval suggests an upcoming altseason for Ethereum.
  • BlackRock's ETH holdings increased by 124% in three months.
  • Whale addresses (holding 10,000 to 100,000 ETH) have grown their balances by 24% over the past year.
  • Current price of ETH near $2,505 is close to the cost basis of accumulating addresses at approximately $2,199.

Ju expressed surprise at the overwhelmingly bearish sentiment on Crypto Twitter, noting that many bears cite decreasing prices as their justification for selling. He encouraged data-driven analysis to support bearish views.

Community member AdrianoFeria.eth highlighted institutional interest, mentioning substantial purchases of ETH by the US President’s family and BlackRock's involvement in tokenization. Ken Griffin from Citadel suggested that Ethereum could surpass Bitcoin.

Analyst IncomeSharks pointed out a potential buy zone above $2,400, while Chris Burniske of Placeholder VC reminded followers of previous mid-cycle drawdowns in 2021, arguing that current conditions are not unprecedented.

As of now, ETH trades at $2,382.