Ethereum faced unexpected setbacks in February, losing 25% of its value amid macroeconomic tensions and security issues.
February Losses for ETH
According to Spot on Chain, February usually sees a positive trend for Ethereum, but this year is an exception. New tariffs introduced by U.S. President Donald Trump have exacerbated economic instability, leading to a decline in financial markets, including cryptocurrencies. A security breach at the Bybit exchange, resulting in a $1.4 billion loss, further pressured the market.
ETH Down 14% in 24 Hours
Today, ETH dropped to $2,310 before slightly recovering. The cryptocurrency has failed to hold key support levels in the past week, heightening concerns of further declines. According to CoinGecko data, ETH's price has fallen from $3,217 this month, losing over $800 in value.
Broad Issues in Crypto Market
Ethereum's woes are not isolated. Bitcoin, the leading cryptocurrency by market capitalization, has also struggled, barely maintaining its value below $90,000 despite a recent major purchase by Strategy.
The crypto market continues to face uncertainty and pressure, leading to noticeable price volatility. Structural issues and volatility have planted caution among investors.
