Ethereum Faces Record Selling Pressure Over the Last Three Months: CryptoQuant
Ethereum (ETH) has undergone intense selling pressure over the past three months, marking the highest level of active sell-offs in five years, according to a report from CryptoQuant CEO Ki Young Ju.
Year-to-date, ETH has dropped 43%, falling from its 2025 high of $3,744 to its current price of $1,899. CoinDesk research further highlights that the ETH-to-BTC ratio has declined to its lowest point in five years, while Ethereum’s four-year compound annual growth rate (CAGR) has turned negative relative to Bitcoin.
Historically, ETH has rarely dipped below $1,900, with only a few occurrences since 2020. Investors who acquired ETH between June 2022 and October 2023, as well as those who bought throughout 2020, would still be in profit despite the recent downturn.
Short-Term Holders Face Steep Losses, While Long-Term Investors Begin to Capitulate
Glassnode data reveals that short-term holders (STHs)—investors who have held ETH for less than 155 days—are experiencing significant realized losses. Additionally, long-term holders (LTHs), who typically withstand market volatility, are also beginning to sell off their holdings.
Whales holding 100,000 ETH or more have been the primary drivers of realized losses, with selling pressure intensifying since February, according to Glassnode insights.
