On March 4, 2026, from 20:45 to 21:00 (UTC), ETH experienced a 1.02% decline in return within 15 minutes, with the price fluctuating between 2149.69 and 2174.09 USDT, a volatility of 1.12%. Market attention increased during this period, volatility intensified, attracting a large amount of short-term capital, and investor sentiment became notably cautious.
The main driver of this movement was large on-chain holders transferring significant amounts of ETH to trading platforms and executing sales, leading to short-term selling pressure. Whale selling concentrated in a low-liquidity environment tends to amplify price fluctuations. Additionally, leverage in the ETH derivatives market has recently risen, and a decline in leveraged positions triggered collective liquidations, further increasing downward pressure. ETF net inflows were $6.6 million, weaker compared to Bitcoin during the same period, indicating limited buying support.
Furthermore, on-chain data shows significant fluctuations in active addresses and trading volume in early March, with active selling dominating the market. The US spot Ethereum ETF experienced limited net inflows, and options hedging was insufficient, leaving the downside unprotected. Institutional investors remain cautious. Meanwhile, stock market volatility and rising risk aversion triggered synchronized adjustments in the crypto market, creating cross-market liquidity pressure resonance and pushing ETH short-term under pressure. From a technical perspective, ETH prices remain below multiple daily moving averages, with RSI and ADX indicating a correction phase and weakening support levels.
Currently, ETH faces high volatility risk. In the short term, attention should be paid to support below $2,149 and on large on-chain transfers. Investors should be alert to extreme fluctuations caused by leveraged liquidations, monitor ETF capital flows, and macro market trends to manage risks effectively. For more real-time market data and information, it is recommended to continuously follow mainstream on-chain data and derivatives market performance.
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
Wintermute CEO: Will Continue Holding ETH and Supporting Ethereum's Long-Term Vision
Wintermute CEO Evgeny Gaevoy expressed more criticism than celebration of the Ethereum Foundation's mission statement, believing it can sustain the cypherpunk dream. He noted that the impact on ETH price in the short term is limited, with long-term results depending on goal achievement. He will continue to hold ETH for cultural and meme reasons.
GateNews1h ago
Analyst: BlackRock Launches Staking Ethereum ETF Solo to Avoid Punitive Impairment Risk
BlackRock's staking Ethereum ETF attracted approximately $46 million in funding within two days of its launch, holding spot ETH and staking 70%-95% of ETH through CEX. Investors can receive approximately 82% of staking rewards monthly, with remaining rewards going to BlackRock and service providers. The fund's non-compounding design attracts large investors, and BlackRock chose to launch the staking ETF independently to mitigate risks.
GateNews1h ago
MoonPay introduces native hardware signature support for AI agent tools
MoonPay announced on March 15 the introduction of hardware signing support for its AI agent tool, allowing transaction strategies to be executed across multiple blockchains, with users required to confirm transactions through Ledger devices to ensure private key security.
GateNews1h ago
ShapeShift founder spent 17.75 million USDT to buy 8,576 ETH over the past 5 days
Gate News reported on March 15 that according to Lookonchain monitoring, ShapeShift founder Erik Voorhees has resumed buying ETH after a year of inactivity. Over the past 5 days, he has spent 17.75 million USDT to purchase 8576 ETH. Currently, Erik Voorhees still holds 26.77 million USDT and may continue to purchase more ETH.
GateNews3h ago
DWF Labs: Traditional Altseason Coming to an End, Institutional Capital Shifting to BTC, ETH, and RWA
Andrei Grachev from DWF Labs points out that the traditional "altseason" is gradually disappearing due to structural changes in the crypto market. Institutional capital increasingly favors Bitcoin and Ethereum, exposing altcoins to higher risks and capital outflows. Over the past 13 months, altcoin market capitalization has declined by over $209 billion.
GateNews4h ago
