I just saw an analysis from Bitwise that’s a bit scary for those holding Ethereum. According to their researcher, Ethereum’s price could plummet about 22% and reach $1,500 if the decline continues at this pace. Basically, it would be the worst drop sequence we’ve seen in history.

The problem, from what I understand, is that Ethereum is completely tied to Bitcoin’s movement. When BTC drops 10%, ETH drops even more. It’s like Ethereum amplifies everything Bitcoin does. And the market is ignoring good news — ETF approvals, growing stablecoins, even Larry Fink from BlackRock speaking positively about Ethereum — but no one is paying attention, just watching the chart fall.

There’s a positive side: options traders have already pulled back from super bearish bets. If Ethereum’s price can return to the $2,100 to $2,400 range, it would be a 10-20% increase, and options traders would be forced to buy to hedge, which could give it a boost. But for Ethereum to really start rising again, it needs a strong catalyst — like approval of clear regulations or massive buying volume. Until then, the risk remains.