Down 70% from its all-time high. Trading around the same levels it was 4 years ago. Its monthly RSI is even more stretched than the bottoms of 2018 and 2022.
The last bear market pushed ETH down 82% before it finally found its floor.
This is the part of the cycle where people lose hope. Some call it the end. Others call it the opportunity of a lifetime.
No one knows if the absolute bottom is already in or if one more painful drop is waiting ahead.
But history has a funny way of rewarding patience when fear reaches its peak.
So here's the real question:
Are we witnessing Ethereum's final capitulation... or is the market preparing one last shakeout before the next chapter begins?
$BTC tried to push higher, but the rally ran straight into a wall near the average Spot ETF entry price around $83K.
Many ETF investors who had been sitting in losses finally got a chance to exit at breakeven, adding heavy selling pressure just as fresh demand slowed down.
This level now matters more than ever. A strong reclaim could put the average ETF holder back in profit and bring confidence back to the market. Until that happens, every move higher may continue to face sellers looking to reduce risk.
The battle isn't just about price anymore. It's about sentiment, positioning, and who blinks first.
$SAGA has already delivered a solid 35.75% profit, and the price is still hovering around the same zone. With the risk of a fresh lower low on the table, taking some profits here makes sense.
Lock in the wins, reduce the stress, and let the remaining position keep running. Sometimes the smartest move isn't chasing more it's protecting what you've already earned.