February 10 News: Ethereum (ETH) continues to fluctuate at low levels, with the latest price hovering around $2,000 and failing to regain the $2,100 resistance level. As on-chain valuation metrics enter historically sensitive zones, the market is reassessing whether ETH is approaching a long-term bottom or if there is still a risk of a secondary decline.
Crypto analyst Michaël van de Poppe pointed out that Ethereum’s current Market Value to Realized Value (MVRV) ratio has significantly deviated from its “fair range,” a level that historically only appears at the end of major bear markets. He mentioned that during the COVID-19 crash in 2020, the 2018 bear market bottom, the Terra-Luna collapse in 2022, and the market sharp decline in April 2025, ETH’s valuation also fell into similar ranges, followed by medium- to long-term rebounds.
However, on-chain analyst Jao Wedson offered a more cautious interpretation. He stated that Ethereum’s MVRV Z-Score has fallen to -0.42, entering the “capitulation zone,” but remains above extreme values associated with clear bottoms in the past, such as -0.76 at the end of 2018. This indicates that market pressure is real, but panic selling has not yet reached historical extremes.
Wedson emphasized that true market bottoms are rarely formed in a single event but develop gradually after multiple failed rebounds and range-bound oscillations. Therefore, even if valuation metrics suggest deep undervaluation, the price path may still experience significant volatility.
From the current structure, ETH is in a stage where opportunities and risks coexist. Valuation levels provide a logical basis for long-term allocation, while momentum and sentiment indicators still suggest that short-term uncertainty has not been fully resolved. For investors, maintaining patience and risk management may be more crucial than betting on a specific timing.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH breaks through $2,200; a whale liquidates a $22 million short position with a stop loss, resulting in a stop-loss loss of $1.47 million
Gate News, April 8, according to monitoring by Hyperinsight, the ETH price broke above $2,200. Around 3:00 this morning, a certain whale opened an ETH short position worth $22 million. As the coin price rose, the short position came under pressure; the whale closed the position to cut losses, ultimately recording a loss of $1.47 million. At present, the whale has a buy order for 5,000 ETH, with the order price set at $2,229.
GateNews27m ago
BlackRock withdrew 2,607 BTC and 28,391 ETH from a certain CEX, for a total value of approximately $237 million
Gate News message: On April 8, according to monitoring by Onchain Lens, BlackRock withdrew 2,607 BTC from a certain CEX, worth approximately $178 million. It also withdrew 28,391 ETH, worth approximately $59 million.
GateNews1h ago
Trader “set 10 big targets first,” closed BTC and ETH long positions, with cumulative profits exceeding $12 million
Gate News message, April 8, the trader "set 10 big goals first" (@Jason60704294) disclosed on social media that he has closed out his BTC and ETH long positions, choosing to take profit and exit. In this trade, his 4x leverage long on BTC generated a profit of about $12.12 million, and his 2x leverage long on ETH generated a profit of about $728k, for a total profit of more than $12 million.
GateNews1h ago
ETH drops 0.97% in 15 minutes: Large capital flows concentrated into exchanges and a surge in derivatives short positions converge, triggering a pullback
From 23:30 to 23:45 on April 7, 2026 (UTC), ETH’s return in the span of 15 minutes recorded -0.97%. The price range was 2241.48–2273.25 USDT, and the amplitude reached 1.40%. During this period, the market saw significant volatility; trading activity declined and risk appetite shifted toward defense, drawing widespread attention from the market.
The primary drivers behind this unusual move were large capital transitioning into and then concentrating inflows into exchanges, as well as the synchronous increase in short positions in the derivatives market, which amplified spot sell pressure. On-chain data shows that, during this stage, the total large-amount inflows of ETH into exchanges exceeded 120,000 coins, accompanied by…
GateNews1h ago
ETH breaks through 2250 USDT
Gate News bot message, Gate price chart shows that ETH has broken through 2250 USDT, and the current price is 2250.66 USDT.
CryptoRadar2h ago
