Ethereum News: ETH Faces Potential Price Crash Below $1,000 Due to Market Turmoil and Major Hack

The cryptocurrency market has experienced significant volatility in recent weeks, with Bitcoin and Ethereum, the two largest cryptocurrencies, facing intense price fluctuations. A major hack on Bybit has exacerbated the situation, leading to a significant price drop for Ethereum. Analysts are warning of a potential further decline in ETH’s price.

Ethereum Price Today: Could ETH Plunge Below $1,000 Amid Market Turmoil?

The crypto market has seen significant turbulence throughout February, with Bitcoin plunging to its 2021 low and trading at $86K. Ethereum, the second largest altcoin, also faced intense volatility. A massive $1.5 billion hack on Bybit, allegedly led by North Korea’s Lazarus group, triggered a 25% price crash for ETH, dropping below $2,500. Analyst Benjamin Cowen warns that ETH could sink even lower, possibly below $1,000, before any meaningful recovery.

Can Ethereum Still Shine in the Crypto Universe? Cathie Wood Thinks So.

Ethereum has seen a 27% price dip since last summer, in contrast to Bitcoin’s 48% surge. This has raised concerns over transaction speed and value retention. However, prominent investor Cathie Wood predicts that Ethereum’s market cap could reach $1 trillion by 2025 and possibly $20 trillion by 2032. Ethereum is leveraging its smart contract capabilities to advance decentralized finance (DeFi) and staking, providing unique income generation opportunities. The cryptocurrency’s strength is bolstered by a thriving community and a vibrant ecosystem of decentralized applications. Despite recent market turbulence, Ethereum presents a hybrid asset model with both value storage and functional utility, appealing to patient investors focused on long-term growth.

SEC and Consensys Agree to End Lawsuit

The U.S. Securities and Exchange Commission (SEC) has dropped its case against Ethereum software developer Consensys, marking another regulatory win for the digital asset industry. Consensys, creator of MetaMask, became the latest cryptocurrency and decentralized finance provider to gain relief from a federal investigation launched by the previous SEC leadership. Joseph Lubin, Consensys founder and Ethereum co-founder, said both parties had reached an in-principle agreement to end the SEC’s probe. Consensys was one of several crypto firms scrutinized by the agency in 2024. The SEC had alleged that Lubin’s blockchain developer, through its MetaMask non-custodial wallet, operated as an unregistered securities broker and failed to implement standard consumer protection measures.

Ethereum Price Drop: ETH Could Fall Below $1,000

The crypto market faced severe turbulence in February 2025, with Bitcoin trading around $86,000. Ethereum, the second-largest cryptocurrency, fell below $2,500 due to a $1.5 billion hack on Bybit attributed to the North Korean Lazarus Group. This caused a 25% price crash in Ethereum, painting a bearish picture with potential for further downside.