Ethereum remains the second-largest cryptocurrency by market cap but has suffered a sharper decline than Bitcoin amid the ongoing crypto downturn, signaling it may not overtake BTC anytime soon. It traded around $2,008, down more than 5% on the day, flirting with the $2,000 level. From its August high, Ethereum has fallen about 60%. The underperformance is attributed to lower liquidity and weaker institutional demand, which tend to make Ethereum more volatile during downturns.
Investors pulled $3.2 billion from Ethereum ETFs, including about $462 million since the start of the year. Ethereum has left the $2,800–$3,000 range and now remains in a broadly bearish regime. The historically anticipated flippening has not occurred, underscoring Ethereum’s persistent lag behind Bitcoin.
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