Ethereum has plunged to approximately $1,552 amid a widespread market downturn, declining 9% this week and over 25% in the past month. Market observers anticipate the bearish conditions to persist, raising questions of whether ETH could revisit its June 2022 low below $1,000, driven by macroeconomic tensions and negative Bitcoin price predictions.
Ethereum faces a steep price crash amid a market-wide wipeout. The second-largest cryptocurrency has dipped to the $1,552 level as of press time.
CoinGecko data shows ETH’s price has fallen by 9% in the last week and more than 25% in the previous month. Many anticipate the bearish market environment to persist for the time being.
Ethereum’s price fell to $995 in June 2022, a period marked by sector-wide turmoil. That year saw the collapse of FTX which had a cascading effect on markets.
The current bearish sentiment arises from macroeconomic worries and geopolitical tensions. The war in the Middle East and the closure of the Strait of Hormuz caused significant oil price surges earlier this year.
As a result, inflation in the US climbed to 4.2% in May 2026. The Federal Reserve decided to keep interest rates unchanged to combat high CPI figures.
Further pressure came from prominent Chinese Bitcoin miner Jiang Zhuoer. Zhuoer anticipates BTC’s price to fall to somewhere between $42,000 and $44,000.
If Bitcoin drops to such lows, there is a chance Ethereum will also follow suit. However, falling below $1,000 may not happen just yet.
While the current market scenario is not great, it is nowhere close to the 2022 crisis. Ethereum may face further price dips, but it will most likely remain above the $1,000 mark.
