Key Notes

• Ethereum spot ETFs saw $49.93 million in net outflows from March 31 to April 4.
• Analysts warn of further downside, with Bloomberg’s Mike McGlone suggesting a potential slide to $1,000.
• Despite heavy liquidations and uncertainty, large Ethereum holders, including the “7 Siblings” group, have accumulated over $60 million in ETH.

Amid the broader crypto market sell-off, Ethereum

ETH
$1 464

24h volatility:
18.3%

Market cap:
$176.70 B

Vol. 24h:
$39.04 B

price has tanked 16% today, extending its 2025 losses to 54% so far. As ETH falls back to $1,500, the levels last seen eight years back in 2018, analysts have started to question its status as “ultrasound money”.

Ethereum (ETH) Price Drop to $1,500 Drains Investors

Ethereum has emerged as one of the worst-performing digital assets of 2025 so far, eroding over $220 billion of investors’ wealth in just the first three months. On-chain analyst Willy Woo has weighed in on Ethereum’s long-term performance, noting that its reputation as “ultrasound money”, is eroding quickly.

According to Woo, Ethereum (ETH) traded at $1,569 earlier today, only slightly higher than its price of $1,448 in January 2018. This equates to a compounded internal rate of return (IRR) of just 1.2% over the past seven years.

Related article: Ethereum Price Falls Below $1,800 Despite Ending Its Spot ETF Outflow Streak

While there have been several updates over the past eight years, like a transition to a Proof-of-Stake (PoS) model, and others, it hasn’t yet translated into ETH price recovery. As a result, the “Ethereum is dead” narrative is catching up quickly in the market.

During the last week between March 31 and April 4, Ethereum spot ETFs recorded a total net outflow of $49.93 million, reflecting continued investor caution amid market uncertainty.

Grayscale’s Ethereum Trust ETF (ETHE) led the exodus, posting the largest single outflow of the week at $31.08 million. The movement signals a pullback in institutional interest as ETH struggles to regain upward momentum

Will Pectra Upgrade Lead to ETH Recovery Anytime Soon?

Ethereum Pectra upgrade, which is likely to boost network efficiency and scalability, has faced multiple delays and is likely to arrive by the month’s end. Investors have been pinning hope on this development for ETH recovery ahead.

Although the Ethereum liquidations have soared to $367 million in the last 24 hours, investors are pinning hope for the altcoin to recover. Despite the broader crypto market crash, Ethereum whales have been actively buying the dip, according to on-chain data from Spot On Chain.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Author
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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