Despite Ethereum finding a space in US strategic reserves for crypto assets, the altcoins have faced a brutal crash after rejection at $2,500. Now, ETH price is testing a crucial support at $2,000 extending its year-to-date losses to more than 36%. Market analysts say that ETH is on track to face its worst-performing Q1 in history.

Ethereum on Way to Record Its Worst Performing Q1

The world’s largest altcoin, Ethereum (ETH), has faced a classic pump and dump over the last 72 hours. At press time, the ETH price is down more than 14% in the last 24 hours with open interest crashing more than 10.8% to $18.8 billion while 24 hour liquidations soaring to $209 million, per the Coinglass data.

Dropping more than 36% from starting the year at $3,300, ETH is on course for its weakest first-quarter performance. A drop to $1,600 would solidify this quarter as the worst in Ethereum’s history, surpassing the decline seen in Q1 2018 following the previous cycle’s peak, said analyst venturefounder.

It seems that a smart whale has been minting massive profits after shorting Ethereum. A major Ethereum (ETH) whale, who executed a 50x leveraged short position, is now sitting on an unrealized profit exceeding $81 million as the cryptocurrency’s price continues to decline.

Shares of Ethereum ETFs Hit Record Lows

Over the past eight sessions, US Ethereum ETFs have witnessed massive outflows. BlackRock’s iShares Ethereum Trust (ETHA) faced the biggest blow by clocking more than $164 million worth of outflows since February 24.

Additionally, the ETHA share price has tanked by more than 38.59% since the beginning of 2025, crashing all the way to $16.09. It seems that institutional interest in ETH has completely evaporated as the asset lost all of its post US election gains. Popular economist Peter Schiff stated:

“Despite Trump’s Truth Social Sunday Ethereum pump, the Ethereum ETFs closed at record lows today. They are now down 40% since they first launched about eight months ago, and 49% below their Dec. 2023 highs. The worst part for investors is that ETH still has a long way to fall”.

ETH Price – Buy The Dip Opportunity?

Despite the current fall to $2,000, market analysts say that Ethereum provides a buy-the-opportunity to investors. Referring to today’s 14% ETH price crash, market analyst IncomeSharks noted that its “too big of a red candle not to buy”. While noting a cautious approach, the trader confirmed adding a small amount of Ethereum to their portfolio during the dip.

Crypto market commentator Venturefounder has issued a cautious outlook for Ethereum (ETH), suggesting bearish momentum in the near term. However, the analyst emphasized that for those maintaining a long-term bullish view on Ethereum, now could be an opportune moment to start accumulating. “We are going into the undervaluation zone,” the analyst said.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.