ETH is down after several weeks of being in the black. This raises questions as to whether its recent uptrend has lost steam.
Crypto.news reports that on July 22nd, 2025, Ethereum will be (ETH() is down approximately 2.6% over the past 24 hours. It’s trading at $3,692 and has fallen from its high this week of $3,845. The drop, which was part of a broader market correction, sent ETH briefly to a low intraday level of $3,646. It then recovered to current levels. The quick fall also caused a surge of liquidations across major exchanges, hitting short-term sentiment.
Pullbacks follow one of Ethereum’s most impressive streaks, as the token was still up 53% in the past month and 24% the previous week. This sudden decline has led to questions over whether the rally which has been fueling calls for $5,000 is losing its momentum.
The data on-chain supports this cautious outlook. A recent Sentora report Over 90% of ETH address are in profit at the moment, which is the highest since December 2024. Profit-taking is a risk, especially as the prices are consolidating near their recent highs.
The overall picture is still encouraging. The market data indicates that this is more than just a pause. Although the number of active daily addresses has dropped by around 2.6% (to 526,300), it is still higher than last years’ figure. according YCharts. ERC‑20 addresses have cooled 17.6% to about 474,500, signaling a short pause after weeks of heavy trading, but activity remains above 2024 levels.
Another strong foundation is the soaring institutional interest. SoSoValue reports that ETH tracking exchange traded funds continue to gain, and their most recent trading day saw about $297 millions in new inflows. data. A recent CoinShares report also shared a record $2.12 billion in inflows to ETH funds last week, contributing to a total of $6.2 billion in 2025 inflows so far, which already surpasses all of 2024. The total amount of inflows this year now accounts for 23% AuM. This is boosted by the billions that have come in from corporate Treasury.
If Ethereum maintains support above $3.500 and continues to receive capital, the upward trend could rapidly regain its strength. If, however, the purchasing pressure wanes, ETH may retrace toward mid-$3,000s.
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Source: crypto.news
