Ethereum Traders Grow Increasingly Bearish as ETFs Bleed, ETH Sinks Near $2,000

Users on Myriad: a prediction market platform operated by Declutter‘s parent company, Dastan, is become more and more convinced about a short-term decline for Ethereum, favoring a move towards $1,500 for the second-largest crypto asset rather than a potential recovery towards $3,000.

Ethereum recently traded around $2,057, down 0.8% in the past 24 hours and more than 10% in the past month. As a result of the continued decline, odds have shifted to a “dump” to $1,500 at 63% on Myriad – up more than 13% in the past week.

While you lead Ethereum Treasury firm BitMine Immersion Technologies continues to accumulate ETH at a furious pace –Worth $230 million last week to push its total inventory value above $11 billion – it doesn’t appear to be creating broader demand for the asset.

Ethereum ETFs are on an 11-day losing streak of net outflows, as nearly $500 million worth of investments have exited the exchange-traded products in that time. This is evident from data from Farside.

“We are in the depths of a bear market that is affecting almost all crypto assets, including Ethereum,” Ryan Rasmussen, head of Bitwise Research, told me. Declutter.

“Yet Ethereum owns a large share of the markets for stablecoins and tokenized assets, and financial institutions continue to build on Ethereum,” he added. “We expect Ethereum to move higher as the crypto market turns the corner and emerges from the bear market.”

How much higher the price could swing if the market rebounds remains to be seen. Forecasters on Polymarket Gives Ethereum a 51% Listing to fall back to $1,500 in 2026, but even lower odds of reaching higher figures, such as $3,500 or $4,000, which forecasters say offer odds of 26% and 16% respectively.

ETH, which reached a new all-time high of $4,946 in Augustsits almost 59% above its high marker. Bitcoinin contrast, it is about 40% below its own peak price above the $126,000 set in October.