Ether (ETH) Has Fallen 43% Year-to-Date, It Hit a 2025 High of $3,744 Before Dropping to Its Current Level of $1,899

Ether (ETH) has fallen 43% year-to-date, it hit a 2025 high of $3,744 before dropping to its current level of $1,899.

Ether (ETH) price has fallen 43% year-to-date, having hit a 2025 high of $3,744 before dropping to its current level of $1,899.

According to CryptoQuant CEO, Ki Young Ju, ether has experienced record levels of active selling over the past three months - the highest in the last five years.

CoinDesk research indicates that the ether-to-bitcoin (ETH/BTC) ratio has declined to a five-year low, and the four-year compound annual growth rate (CAGR) has become negative against bitcoin.

ETH has only dipped below $1,900 a handful of times since 2020. If you had purchased ether between June 2022 and October 2023, as well as throughout 2020, you would still be in profit at the time of writing.

Glassnode data shows that short-term holders (STHs) - those who have held ETH for less than 155 days - are feeling the heat of the recent downturn, with a significant portion now realizing losses. However, long-term holders (LTHs) are also beginning to capitulate, albeit at a smaller scale.

Moreover, the majority of realized losses are being driven by whales who hold 100,000 ETH or more, particularly since February, as per Glassnode data.

Here are some key insights from crypto derivatives exchange, Deribla, on the state of ether's options market:

* Implied volatility (IV) has dropped to its lowest level in 2025. Despite the recent price downturn, IV is remarkably low, suggesting low levels of fear, uncertainty and doubt (FUD) among traders. Typically, IV rises during periods of high market turbulence and decreases with market stability.

* Higher puts volume than calls. The volume of put options is significantly higher than that of call options. This indicates that traders are currently placing more bearish bets on ether's price movement.

* Most popular strike price is $2,000. The $2,000 strike price for ether options is proving to be the most popular among traders, signaling their strong interest in this price point. It remains to be seen whether ether can stage a comeback from its recent lows.