Ethereum (ETH), the second-largest cryptocurrency by market cap, is experiencing a price drop due to a massive wipeout of its entire marketplace. At press time, the price of Ethereum (ETH), which is the second most valuable cryptocurrency in terms market cap, has fallen to $1552. CoinGecko data The graph shows that ETH’s price fell by 9% last week and over 25% the previous month. Most people expect the current bearish market to last for the next few months. Discuss if Ethereum’s (ETH) price could go below $1,000 like it did back in 2022.
Ethereum to Fall below $1000 Once Again
The price of Ethereum fell from $995 to $995 just four years earlier, in June 2022. The crypto industry had a bad year in 2022. We witnessed the fall of FTX, which caused a cascading affect. Bitcoin’s (BTC) price briefly dropped to $15,000 and caused a major uproar among investors.
Ethereum’s current bearish sentiment (ETH), is a result of macroeconomic fears arising from geopolitical pressures. Early this year, the Middle East war and the Strait of Hormuz closure caused oil prices to spike. In May 2026, the US inflation rate reached 4.2%. To combat the high CPI numbers, The Federal Reserve has decided to maintain interest rates. The Federal Reserve made a decision that hurt Ethereum (ETH) as well as the broader crypto market.
Jiang Zhuoer is a well-known Chinese Bitcoin (BTC), miner. Zhuoer believes BTC prices will drop to between $42,000-$44,000. Ethereum (ETH) may follow BTC’s lead if BTC plunges to this low. But a drop below $1000 is not likely to happen anytime soon.
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Although the current situation is not ideal, it’s still better than what we saw in 2022. Ethereum (ETH), while it may continue to experience price drops, will likely stay above the $1,000 mark.
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Source: watcher.guru
