The recent performance of Ethereum has been less than stellar, with the price falling from its usual range above $4,600 to below $4,500. Despite a boost from the US Federal Reserve’s interest rate cut, Ethereum failed to sustain its rally back to the $4,600 region.
On-chain data suggests that investors may be turning away from Ethereum, the second-largest cryptocurrency by market cap. The question now is how far will the price of ETH fall in the coming weeks?
A recent post by pseudonymous crypto analyst Darkfost on social media platform X revealed that Ethereum investors might be exiting the market. This observation is based on the downturn in the ETH Taker Buy-Sell Ratio on major crypto exchanges.
The Taker Buy-Sell Ratio compares the taker buy volumes to the taker sell volumes on exchanges. A ratio greater than one indicates more buying activity, while a ratio less than one suggests more selling pressure. Data from CryptoQuant shows that the Ethereum Taker Buy-Sell Ratio fell below 1 to around 0.87, marking the third time in 2025 that this metric has dropped so low.
Darkfost highlighted that the ratio fell as low as 0.85 in January and February 2025, coinciding with a bearish trend that saw Ethereum’s price plummet to around $1,500. Currently, the 7-day average of the Taker Buy-Sell Ratio is at 0.93, indicating ongoing bearish sentiment among investors.
While a repeat of the 2025 downturn is unlikely, the recent on-chain events suggest that Ethereum’s price could face further downward pressure in the near future. As of now, ETH is trading around $4,475, showing a modest 0.4% increase in the past 24 hours.
In conclusion, Ethereum’s price may continue to struggle in the coming weeks as investor sentiment remains cautious. It will be interesting to see how the market reacts to these developments and whether Ethereum can regain its footing in the crypto space.