Ethereum’s Bearish Streak Hits 5 Months—When Will the Bleeding Stop?

Another month, another red candle for ETH. The crypto giant just logged its fifth consecutive monthly loss—a streak not seen since the 2018 bear market.

The Numbers Don’t Lie

April closed with ETH down 12% against BTC, while TradFi analysts smugly adjusted their ’I told you so’ spreadsheets. Meanwhile, the network’s gas fees hit a 2025 low—because who needs transactions when everyone’s HODLing (or panicking)?

Silver Linings Playbook

Dev activity remains high, and the Shanghai upgrade’s staking unlocks are now fully digested. But with ETF delays and macro headwinds, ETH’s ’ultrasound money’ narrative is getting a stress test worthy of a Fed stress test.

Fun fact: This downtrend coincides perfectly with Wall Street’s sudden obsession with ’blockchain, not crypto.’ Coincidence? Probably not.

• Ethereum extends its losing streak to 5 months, closing April 2025 down 1.58% and shedding 36.7% of its value over the past year.

• ETH’s price plummeted from $2,875 (May 2024) to $1,820 (May 2025), with steep drops in October 2024 and March 2025.

• Analysts predict ETH’s May 2025 performance.

The price of Ethereum (ETH), the second-largest cryptocurrency based on market cap, has ended another month at a loss. It ended April 2025 at -1.58%. This loss makes it the fifth successive month the crypto asset has ended in a loss.

The latest loss means that ETH has lost 36.7% of its value over the past 12 months.

ETH Plummets 37% Since May 2024

The latest data from CryptoRank.io indicates that ETH’s price has fallen from $2,875 as of May 1, 2024, to its current value of $1,820 as of today, May 1, 2025. In 2024, the cryptocurrency recorded strong gains of 47.4% and 24.7% in May and June, respectively.

However, it started its trend of declines in the second half of last year. After recording gains of 3.20% in July 2024, Ethereum recorded losses in eight of the nine months that followed.

It had the largest drops in October 2024 and March 2025 when its price dropped by 18.4% and 11.58% in each of these months. Even though periods such as the holiday season in December have often been months when ETH has performed excellently, it failed to repeat those performances in December 2024.

Instead, it dropped 10.1% that month.

Source: X (@CryptoRank_io)

Can Ethereum Overcome May’s Mixed History in 2025?

As the second leading cryptocurrency starts a new month, some analysts have expressed belief that May 2025 could be the month ETH breaks its streak of ending the month at a loss. Those who believe the digital asset will end the month on a high point due to its overbought conditions on the charts, which usually happen before a price rally.

They also believe that upcoming developments in the Ethereum network and the cryptocurrency’s adoption trends will play an important role in the digital asset’s price direction. However, others argue that broader economic conditions, such as institutional investment flows and interest rate policies, could have a negative impact on the price of Ethereum and other cryptocurrencies.

Meanwhile, historical charts show that cryptocurrencies (including Ethereum) usually post mixed performances in this month. There are some years they will end the month of May on a high, while there have been months they will end it at a loss, known as May’s slump among some industry participants.