The world’s second-largest cryptocurrency by market capitalization has experienced a turbulent price trajectory, marked by a new all-time high last year that barely surpassed its previous peak. This was followed by a significant downturn, pushing its market share against Bitcoin lower.
Daan Crypto Trades, a prominent analyst, posted on X (formerly Twitter) today, questioning whether the current price collapse, which saw Ethereum (ETH) hit a 14-month low of $1,500 last week, presents a viable opportunity for accumulation.
Current data indicates that ETH is on pace for its second-worst first half of the year since 2022. In that year, ETH saw a 10.75% drop in the first quarter and a substantial 67% decline in the second. This year, it has already fallen by 29% in Q1 and 21% in Q2, with several weeks remaining in the current quarter.
Compounding the negative performance compared to 2021/2022, Ethereum is poised to close three consecutive quarters in negative territory. These losses have all been in double digits since Q4 2025 concluded with a 28% decrease.
Daan Crypto Trades described the past nine months as “extremely bad” for the altcoin, particularly after its peak following a significant accumulation phase by Bitmine. The firm, chaired by Tom Lee, reportedly amassed billions of dollars worth of ETH, but its position is now also in the billions of dollars in the red due to the asset’s price correction.
Despite the current market conditions, the analyst remains optimistic about Ethereum’s future role in tokenization, decentralized finance (DeFi), and other applications. He suggested that current price levels are “finally attractive again for longer-term accumulation (years).” However, he cautioned that bear markets can persist longer than anticipated and advised maintaining some “dry powder” for unforeseen circumstances.
Meanwhile, fellow analyst Ali Martinez highlighted a recent surge in Ethereum investors withdrawing funds from exchanges. Citing data from Glassnode, Martinez reported that approximately 500,000 ETH, valued at around $800 million at current prices, were removed from trading platforms within a single week.
Martinez suggested this trend could align with the accumulation strategy and serve as an “early sign of accumulation.”
In a separate post, Martinez issued a warning, indicating that Ethereum’s true price bottom could be more than 50% below current levels, potentially reaching around $700.
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