Ethereum has taken a proper beating. It just crashed below $1,600, currently sitting around $1,569 after dropping over 13% in the past 24 hours. But it’s not just ETH. The entire crypto market is bleeding. The global crypto market cap is down by more than 6% in a day, now at $2.51 trillion. That’s about $160 billion wiped out.

Source: CoinMarketCap

What’s wild is that Ethereum’s 24-hour trading volume has surged nearly 300%. That kind of spike usually screams panic — people rushing to sell, whales making big moves. Ethereum’s market cap is about $189.58 billion. ETH had been holding that $1,700 to $1,800 zone for a while, just moving sideways. Nothing crazy but stable enough. 

The funny thing is, just five days back, there was actual hope. ETH was slowly climbing toward that $1,950–$1,970 resistance zone. A breakout there could’ve sent it flying to $2,050 or even $2,100. But no, sellers showed up, momentum died, and ETH nosedived instead.

Now the big question: Can it hold $1,550? If not, we might see it drop to $1,450 next — and we haven’t seen that level since early 2023.

This isn’t just a small dip. It’s the kind of correction that shakes people out. A week ago, people were talking about a bull run. Now, everyone’s back to watching support levels like hawks. Welcome back to crypto — where things change overnight.

Also Read: Ethereum Price Prediction: Will ETH Rise Back After Brutal Start?

Follow The Crypto Times on Google News to Stay Updated!