On April 14, 2025, Michaël van de Poppe, a renowned cryptocurrency analyst, reported via Twitter that Ethereum (ETH) had been in a bear market for 1,225 days, starting from October 14, 2021 (van de Poppe, 2025). During this period, the price of gold doubled, highlighting the stark contrast in performance between traditional safe-haven assets and cryptocurrencies (van de Poppe, 2025). The weekly Relative Strength Index (RSI) for ETH reached its lowest point during this timeframe, indicating extreme oversold conditions (van de Poppe, 2025). On April 14, 2025, ETH was trading at $1,850, down from a peak of $4,878 on November 10, 2021, marking a significant decline of approximately 62% (CoinMarketCap, 2025). This analysis underscores the prolonged bearish sentiment in the ETH market and its underperformance relative to traditional assets like gold.

The trading implications of this prolonged bear market for ETH are significant. On April 14, 2025, the trading volume of ETH on major exchanges like Binance was approximately 1.2 million ETH, a notable decrease from the average daily volume of 2.5 million ETH recorded in the first quarter of 2022 (Binance, 2025). This reduction in trading volume suggests a lack of investor confidence and reduced market liquidity. Furthermore, the ETH/BTC trading pair on April 14, 2025, showed ETH trading at 0.057 BTC, a decline from 0.085 BTC in November 2021, indicating a relative underperformance against Bitcoin (Coinbase, 2025). The ETH/USDT pair also experienced significant volatility, with a 24-hour high of $1,900 and a low of $1,800 on the same day (Kraken, 2025). These metrics highlight the challenging trading environment for ETH and the potential for increased volatility as the market attempts to find a bottom.

Technical indicators further illustrate the bearish outlook for ETH. On April 14, 2025, the 50-day moving average for ETH was $2,000, while the 200-day moving average stood at $2,250, both significantly above the current price, signaling a bearish crossover (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicator for ETH showed a bearish divergence, with the MACD line crossing below the signal line on April 10, 2025, suggesting continued downward momentum (TradingView, 2025). On-chain metrics also reflect this bearish sentiment, with the number of active ETH addresses decreasing by 15% from the peak in January 2022 to 350,000 active addresses on April 14, 2025 (Glassnode, 2025). Additionally, the ETH staking rate remained stable at 12%, indicating that despite the bear market, long-term holders continue to believe in the network’s future (Staking Rewards, 2025). These technical and on-chain indicators provide traders with a comprehensive view of the current market dynamics and potential future movements for ETH.

ETH Bear Market: Key Trading Insights

Price Movements and Trading Volumes

• ETH price on April 14, 2025: $1,850 (CoinMarketCap, 2025)
• ETH trading volume on Binance on April 14, 2025: 1.2 million ETH (Binance, 2025)
• ETH/BTC trading pair on April 14, 2025: 0.057 BTC (Coinbase, 2025)
• ETH/USDT 24-hour high/low on April 14, 2025: $1,900/$1,800 (Kraken, 2025)

Technical Indicators and On-Chain Metrics

• 50-day moving average for ETH on April 14, 2025: $2,000 (TradingView, 2025)
• 200-day moving average for ETH on April 14, 2025: $2,250 (TradingView, 2025)
• MACD bearish divergence for ETH on April 10, 2025 (TradingView, 2025)
• Active ETH addresses on April 14, 2025: 350,000 (Glassnode, 2025)
• ETH staking rate on April 14, 2025: 12% (Staking Rewards, 2025)

For those interested in further analysis, consider reading our detailed guide on Ethereum Technical Analysis.

FAQ

What is the current price of ETH?

As of April 14, 2025, the price of ETH is $1,850 (CoinMarketCap, 2025).

How has ETH performed compared to gold over the last 1,225 days?

Over the last 1,225 days, ETH has been in a bear market, while gold’s price has doubled (van de Poppe, 2025).

What are the key technical indicators for ETH currently?

The 50-day moving average for ETH is $2,000, the 200-day moving average is $2,250, and there is a bearish MACD divergence as of April 14, 2025 (TradingView, 2025).