On February 24, 2026, from 03:00 to 03:15 (UTC), ETH recorded a -0.64% candlestick return during a period of high liquidity, showing a continuous slight decline. Amid the recent overall bearish market environment, ETH’s price tested the lower support level during this period without a significant rebound, and increased volatility has attracted market attention. Although the short-term decline was not extreme, it reflected the overall pressure on mainstream cryptocurrencies.
The main drivers of this movement were sustained large-scale capital outflows and structural technical downturns. Over $2.5 billion in weekly net capital outflows, represented by stablecoins, ETFs, and derivatives, weakened buying capacity and created bearish pressure. Meanwhile, ETH’s daily and 4-hour charts display typical bear market patterns, with MACD and RSI indicators in the dominant selling zone. Multiple technical indicators show support levels being broken, indicating strong structural downward momentum.
Additionally, open interest in derivatives markets has decreased, liquidation events in DeFi lending protocols have surged, and leveraged positions have been passively liquidated, amplifying spot selling pressure. On-chain ecosystem activity remains subdued, with ETH’s mainnet net burns totaling $381 million this week and DeFi TVL dropping 13.5%, indicating continued weakening of on-chain capital flows. Recent security incidents within the Ethereum ecosystem combined with macro policy expectation shifts have further undermined market confidence, with short-term price movements amplified by multiple factors.
Currently, ETH is in a structurally weak position, and traders should be cautious of intensified short-term volatility and the potential further breach of key support levels. Going forward, attention should be paid to on-chain capital flows, ETF subscriptions and redemptions, DeFi TVL, and technical signals such as MACD, RSI, and capital flow directions. Users should remain alert to the risk of leveraged liquidations, on-chain security incidents, and macro sentiment changes that could trigger a new round of selling pressure, and stay updated with real-time market and risk information.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Wintermute CEO: Will Continue Holding ETH and Supporting Ethereum's Long-Term Vision
Wintermute CEO Evgeny Gaevoy expressed more criticism than celebration of the Ethereum Foundation's mission statement, believing it can sustain the cypherpunk dream. He noted that the impact on ETH price in the short term is limited, with long-term results depending on goal achievement. He will continue to hold ETH for cultural and meme reasons.
GateNews1h ago
Analyst: BlackRock Launches Staking Ethereum ETF Solo to Avoid Punitive Impairment Risk
BlackRock's staking Ethereum ETF attracted approximately $46 million in funding within two days of its launch, holding spot ETH and staking 70%-95% of ETH through CEX. Investors can receive approximately 82% of staking rewards monthly, with remaining rewards going to BlackRock and service providers. The fund's non-compounding design attracts large investors, and BlackRock chose to launch the staking ETF independently to mitigate risks.
GateNews2h ago
MoonPay introduces native hardware signature support for AI agent tools
MoonPay announced on March 15 the introduction of hardware signing support for its AI agent tool, allowing transaction strategies to be executed across multiple blockchains, with users required to confirm transactions through Ledger devices to ensure private key security.
GateNews2h ago
ShapeShift founder spent 17.75 million USDT to buy 8,576 ETH over the past 5 days
Gate News reported on March 15 that according to Lookonchain monitoring, ShapeShift founder Erik Voorhees has resumed buying ETH after a year of inactivity. Over the past 5 days, he has spent 17.75 million USDT to purchase 8576 ETH. Currently, Erik Voorhees still holds 26.77 million USDT and may continue to purchase more ETH.
GateNews4h ago
DWF Labs: Traditional Altseason Coming to an End, Institutional Capital Shifting to BTC, ETH, and RWA
Andrei Grachev from DWF Labs points out that the traditional "altseason" is gradually disappearing due to structural changes in the crypto market. Institutional capital increasingly favors Bitcoin and Ethereum, exposing altcoins to higher risks and capital outflows. Over the past 13 months, altcoin market capitalization has declined by over $209 billion.
GateNews5h ago
