Gather USD Price & Performance (GTHUSD)

Ethereum's price has dropped significantly, falling over 11% to $1,900, driven by macroeconomic concerns. Factors include U.S. recession fears, liquidation risks tied to ETH-backed loans, and bearish technical patterns. JPMorgan and Goldman Sachs have increased recession probabilities, adding to market uncertainty and weighing heavily on risk assets like cryptocurrencies.12

February saw a sharp decline in consumer confidence, dropping to 98.3, the steepest fall in nearly four years. Inflation concerns and recession fears contributed to the drop, impacting both stock and crypto markets. The Nasdaq fell 1.3%, while Ethereum and Bitcoin also posted losses, reflecting broader economic anxieties.34

Bitcoin and Ethereum have faced continued declines, with Bitcoin dropping below $79,000. Market sentiment has been hurt by skepticism over the U.S. Bitcoin Strategic Reserve, which some view as inadequate. Long liquidations and broader economic uncertainty have exacerbated the downturn, leaving investors cautious.56