ETH recorded the strongest fall in history in Q1, will April be different?

The price of ETH is on track to end March in the red with a decline of more than 17% due to the latest wave of price drops last week.

This makes Q1/2025 the most discounted Q1 of Ethereum (ETH) in its first decade of existence. The price of ETH generally decreased by 1.28% in January and 32.2% in February 2025. This means that this will be the only Q1 in ETH's history where all 3 months experience a decline.

The most pessimistic Q1 was in 2018, when prices fell by 23.6% in February and 53.7% in March of the same year. All other Q1s in previous years had two months of price increases.

Monthly ETH Price Volatility Performance | Source: Cryptorank.io## Long-term holder status ETH

Will the latest wave of selling pressure reduce the bullish outlook for ETH? It depends on many factors, including whether institutions and whale buyers will buy the dip.

Onchain Lens recently revealed an account that has existed for nearly 10 years just transferred 1 ETH. Although this may not be significant in the grand scheme of things, it raises the question of why that account suddenly became active again.

Source: XInterestingly, with regard to the activities of whales, the cash flow of large holders has remained positive since March 22, indicating that some whales are accumulating as prices decrease.

The net inflow of large holders is around 52,360 ETH as of March 29, equivalent to nearly 100 million dollars of net liquidity flowing into the top altcoin by market capitalization. This indicates that some whales have bought near recent lows, also marking a retest of the 4-week support level.

ETH Price Volatility | Source: TradingViewThe MFI indicator also shows that the liquidity outflow has stabilized in the past 24 hours. However, on-chain data also highlights more downside risk.

ETH whales are at risk of liquidation**,** causing more selling pressure

According to data from Onchain Lens, two whales have opened positions at risk of liquidation totaling 125,603 ETH. According to the report, these two positions will be liquidated at a price of $1,805.

Source: XThis means that these two whales may be forced to buy more ETH before being called for margin, thus also highlighting the risks if the price drops lower.

ETH has shown a significant correlation with the stock market. The stock market has faced a lot of downward pressure in recent conditions, meaning that ETH prices are at risk of dropping further if market conditions do not change.

These concerns indicate a significant risk that ETH will drop below $1,800 in the coming days. Some analysts predict that the price could even slide down to near $1,000 in the weeks ahead.

On the other hand, the latest price drop of ETH has led to a retest of the support level, which means that there is a high likelihood that demand will make another recovery attempt. If this happens, the ETH bulls will be encouraged to pursue another effort to secure dominance.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should thoroughly research before making any decisions. We are not responsible for your investment decisions.

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Dinh Dinh

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