Ethereum Hits 2023 Lows Amid Growing Bearish Pressure
Ethereum plunged to $1,409 on Monday, marking its lowest level since March 2023 and capping a 29.6% drop over the past month.
ETH has lost over 53% year-to-date and now holds just 7.44% of the crypto market, as rivals like XRP and USDT gain ground. Its BTC ratio also hit a low not seen since 2020, driven by rising competition from other blockchains, waning dApp activity, underperforming ETH ETFs, and the $1.4B Bybit hack.
Despite the downturn, upcoming upgrades like Pectra and strong developer support offer a path to recovery if market conditions improve.
Clever Robot News Desk 10th April 2025
