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ETH Rebounds From $1.8K as Price Metrics Signal Prolonged Weakness

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Ether has faced renewed selling pressure, with traders watching a price drift toward a critical support zone as bearish sentiment deepens. A roughly 14% slide over the past 10 days culminated in a notable surge in leveraged liquidations, underscoring the fragility of near-term demand for the network’s data-processing capabilities. The latest move comes as broader market dynamics remain tethered to Bitcoin, with cyclical risk-off trades and hedging activity intensifying as on-chain activity cools and institutional flows remain unsettled.

Key takeaways

  • ETH futures liquidations reached $224 million after a 14% price drop over 10 days, coinciding with a broad pullback in on-chain activity and a precarious bias in the options market.
  • Derivatives data show a sharp shift toward downside hedging, with the ETH put-to-call volume premium spiking to 2.2x and the 30-day delta skew at 18%, signaling elevated demand for protection against further declines.
  • Ethereum’s network fundamentals deteriorated, with total value locked (TVL) dipping to $51 billion—the lowest level since May 2025—and 30-day network fees sliding to $13.7 million, indicating waning activity on the chain.
  • Valuable anchor events added pressure, including a reported $7 million in ETH sales tied to donations associated with Ethereum co-founder Vitalik Buterin, contributing to a cautious mood around the asset.
  • US-listed Ether ETFs recorded outsized outflows, totaling about $405 million since Feb. 11, driving assets under management down to roughly $12.4 billion and signaling continued institutional repositioning.
  • The price path remains tightly correlated with Bitcoin, as Ether’s and BTC’s 20-day correlation held in the upper echelons, reinforcing the perception that macro flows dominate near-term moves.

The latest price action saw Ether fall toward the $1,800 level, erasing a substantial portion of gains from late last year and prompting traders to reassess risk exposure. The pullback has not only tested support but also exposed the fragility of the current floor, particularly as options markets show a renewed appetite for hedges rather than directional bets. The sentiment is not just about a single order book imbalance; it reflects a combination of thinner on-chain activity, lower disposable fees, and a sense that investors are waiting for clearer catalysts before re-engaging with sustained long exposure.

On the derivatives front, the market’s mood shifted abruptly on Tuesday. The put-to-call volume premium in ETH options rose to 2.2 times, a visible tilt toward downside protection as market participants positioned for increased volatility. The delta skew—an indicator of the relative pricing of puts versus calls—stood at about 18% on that day, underscoring that hedging costs were skewed toward protection rather than speculative bets on immediate rebounds. In practice, this configuration implies a market bracing for further price disruption, even as some traders may still tilt toward selling puts to attempt a bounce, a strategy that often backfires in persistent drawdowns.

The chain’s fundamental metrics corroborate a darker near-term outlook. Ethereum’s total value locked declined to around $51 billion, marking a multi-quarter low that suggests reduced appetite for DeFi protocols and the kinds of capital-intensive activity that historically sustain higher gas demand. Network fees have also cooled, averaging roughly $13.7 million over the past 30 days—well below late-2025 levels—and hint at a softer cadence of user activity and contract interaction. Against this backdrop, sentiment around encoding and data processing on the network remains subdued, with potential knock-on effects for validators and ecosystem development projects.

Beyond the on-chain and derivatives signals, a notable social and governance dynamic has fed into the mood music. A recent round of ETH sales linked to donations associated with Vitalik Buterin, Ethereum’s co-founder, drew additional attention. In January, Buterin earmarked a considerable tranche of ETH—16,384 ETH—for philanthropic purposes spanning privacy-focused technologies, open-source hardware, and secure, verifiable software systems. While charitable in nature, the sale added a layer of bearish optics during a week already defined by fragile confidence and risk-off trading. The optics reflect a broader theme: even constructive or altruistic actions can weigh on investor sentiment when market participants are looking for signals of durable demand recovery.

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Further pressure has come from ETF-related trends. Outflows from Ether ETFs have been persistent, with US-listed Ether ETFs recording net withdrawals that have pushed total assets under management down to around $12.4 billion. The pace of withdrawals has accelerated since mid-February, contributing to a sense that institutional players are rebalancing away from Ether in favor of other assets or strategies. The development occurs alongside broader gold-market activity, where gold ETFs saw sizable inflows in the latest reporting period, highlighting a contrast in capital allocation across traditional and crypto-linked investment products.

From a price-movement standpoint, Ether remains tightly correlated with Bitcoin, a relationship that has historically amplified both upside and downside in periods of macro-driven risk appetite. The 20-day correlation between Ether and Bitcoin has hovered in the high 90s, illustrating how a single market narrative—risk-off sentiment—can pull both assets in the same direction for extended stretches. This correlation complicates a clean technical recovery play for Ether, as a broad risk-off backdrop can forestall sustained rallies even when Ether-specific catalysts emerge.

Amid this confluence of signals, traders face a difficult calibration: hedge protection while recognizing the potential for further declines, weigh the durability of on-chain usage against the immediate squeeze on liquidity, and monitor the evolving flow dynamics that continue to shape institutional positioning. The current environment is not merely about price—it is about the balance between hedging demand, network activity, and the liquidity hooks that can either slow or accelerate a potential drag on Ether’s value.

The broader backdrop remains essential. As risk sentiment in crypto persists in a cautious mode and macro flow regimes continue to influence asset dispersion, Ether’s path will depend as much on the resilience of hedging mechanisms and ETF liquidity as on any single protocol upgrade or on-chain development. The market is currently prioritizing protection over speculation, and until derivatives metrics stabilize and on-chain usage strengthens, the path of least resistance could tilt lower rather than higher.

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Market context: The current dynamics place Ether in a broader risk-off framework where liquidity, hedging, and ETF flows weigh as heavily as on-chain activity in determining near-term momentum. In such an environment, macro catalysts and cross-asset capital allocation will continue to shape the trajectory of Ether alongside Bitcoin and other major crypto benchmarks.

Why it matters

For investors, the confluence of a price drop, rising hedging activity, and persistent ETF outflows signals a period of heightened caution. The absence of a clear catalyst for a fast revival raises the probability that Ether could test lower supports before any durable recovery materializes. Traders must weigh the cost of hedges against the risk of a deeper drawdown, particularly in a landscape where futures positions can unwind rapidly in response to new macro cues.

For builders and protocol participants, the softness in on-chain activity and the readiness of markets to hedge rather than deploy funds may influence decisions around network improvements, layer-2 integrations, and development roadmaps. A sustained reduction in network usage could impact fee-based incentives for validators and the long-term economic design of the platform, prompting a closer look at throughput solutions and utilization strategies.

For policymakers and institutional watchers, the flow dynamics around Ether ETFs and other crypto investment products offer insight into how mainstream capital is approaching crypto assets during stress. The rate of outflows and the resilience of liquidity in key products can inform discussions about product design, investor protection, and the evolving regulatory framework governing crypto markets.

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What to watch next

  • Monitor Ether’s price action around the $1,800 level for any decisive break or a potential bounce in the next 1–2 weeks.
  • Track Ether ETF inflows/outflows and any new filings or product adjustments that could signal shifting institutional appetite.
  • Watch Deribit and other venues for changes in put-call ratios and delta skew, which would indicate evolving hedging pressure.
  • Observe on-chain metrics like TVL and network fees for any uptick in activity that could precede a tactical recovery.
  • Keep an eye on the 20-day ETH/BTC correlation, as a sustained decoupling would be a meaningful sign of evolving market dynamics.

Sources & verification

  • ETH price movement to around $1,800 and the $224 million leveraged liquidations over 48 hours.
  • Deribit-based derivatives data showing a 2.2x put-to-call premium and an 18% delta skew for ETH options.
  • Ethereum network metrics: TVL at $51 billion and 30-day network fees at $13.7 million.
  • Vitalik Buterin’s ETH sale tied to donations for privacy-focused technologies and open-source hardware (ETH donations noted in January).
  • US-listed Ether ETF net outflows totaling approximately $405 million since Feb. 11, with AUM around $12.4 billion.
  • BTC–ETH 20-day correlation readings indicating tight co-movement over recent weeks.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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BTC rally faces key hurdle with Wednesday Fed meeting, inflation data

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BTC rally faces key hurdle with Wednesday Fed meeting, inflation data

The crypto rally is took a pause on Tuesday ahead of Wednesday’s Federal Reserve decision.

After briefly topping $76,000 overnight, bitcoin pulled back to around $74,000 during the U.S. session, modestly higher over the past 24 hours.

Crypto stocks mostly booked modest gains, with stablecoin issuer Circle (CRCL), bitcoin miner Bitdeer (BTDR) standing out advancing 5% and 12%, respectively. The Nasdaq closed with a 0.5% gain and the S&P 500 rose 0.25%.

It’s almost universally expected that the Fed will leave benchmark interest rates unchanged at 3.50%-3.75% tomorrow. But given rapidly rising oil prices and their possible effect on inflation thanks to the war in Iran, the focus shifts to Jerome Powell’s messaging and policymakers’ outlook for future rates.

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Bitfinex analysts said the key question is whether policymakers still signal rate cuts in 2026 or are moving towards the idea of no further monetary ease. A more hawkish outcome could weigh on risk assets by strengthening the dollar, they said.

Powell’s take on the recent oil advance will also be in focus. Treating it as a temporary shock would support sentiment, while a more stagflationary view could limit the Fed’s flexibility.

Also coming on Wedesday is the February Producer Price Index report. Tyically not having nearly the weight of the Consumer Price Index, the PPI will be a bit more closely followed given its timing ahead of the Fed meeting.

“A hot PPI number followed by a hawkish FOMC would be the most damaging combination for equities and risk assets,” the Bitfinex team continued.

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That backdrop is already showing up in market expectations toward a higher-for-longer rate path, according to Vetle Lunde, head of research at K33.

The probability of rates staying unchanged through the July meeting has jumped to over 60% from 22% last month, with potential cuts now pushed further into late 2026, he said in a Tuesday note.

For now, price action will likely remain muted. “We expect the $74,000–$76,000 region to cap price momentarily,” Bitfinex analysts concluded.

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Next Pepe Coin: Why Investors Are Choosing Pepeto Over AlphaPepe and Other Presales as Exchange Listings Approach

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Pepeto is emerging as the strongest point of interest among presale buyers in 2026 as investors become more selective about where they place capital. In a market still full of empty promises and roadmap heavy launches, Pepeto is gaining traction by offering something most meme coins cannot: three real products close to launch, the PEPE cofounder, and $8.1 million in presale funding according to CoinDesk.

That distinction is becoming increasingly important. Early stage crypto buyers are paying closer attention to whether a project has real infrastructure, verified audits, and a team with a track record. On that basis, Pepeto is starting to stand apart from every other presale in the market, including projects like AlphaPepe according to Cointelegraph.

Why Pepeto is resonating more strongly with investors

1. Pepeto

A major part of Pepeto’s appeal is that it does not ask buyers to trust a team with no track record. The PEPE cofounder who built PEPE Coin is behind this project, which gives participants real confidence in what they are buying. The difference may sound minor at first, but it changes the entire investment case. Instead of putting money into a meme coin with nothing behind it, buyers get three real products approaching launch and a SolidProof audited contract.

That makes Pepeto feel more like a real investment and less like a gamble, even though it still sits firmly in the high upside segment of the market where the next Dogecoin will come from. Investors are also responding to the fact that Pepeto has built 196% APY staking directly into the presale phase, compressing supply every single day.

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Rather than limiting the experience to buying and waiting, Pepeto has created an ecosystem where PepetoSwap, Pepeto Bridge, and Pepeto Exchange will keep holders engaged long after listings begin.

That makes the ecosystem easier to believe in and gives the presale more momentum than a typical meme coin launch. One reason Pepeto is drawing more attention than competing presales is that $8.1 million raised and three products close to launch present it as an active ecosystem, not a static fundraise.

The broader structure, including PepetoSwap, Pepeto Bridge, Pepeto Exchange, and 196% APY staking, gives buyers the impression that this token is attached to a growing ecosystem instead of a one dimensional meme coin pump.

2. AlphaPepe

AlphaPepe offers instant token delivery and a participation model that keeps buyers engaged after the initial purchase. The project includes features like reward claims and rank progression that give the presale more activity than a typical token sale page.

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For investors who want immediate visibility over their position, AlphaPepe delivers on that front. But AlphaPepe does not have the infrastructure depth that Pepeto brings with three announced products, a SolidProof audit, and the PEPE cofounder behind the entire build.

3. Kaspa

Kaspa holds at $0.035 as of March 17 with a loyal community and consistent on chain transaction volumes that reflect real usage. But analysts project a potential dip toward $0.027 by mid April before any meaningful recovery comes through.

The fully diluted valuation already bakes in significant adoption, and the returns from here are measured in modest single or low double digit percentages. For investors looking for the next Shiba Inu level entry, Pepeto at six zeros offers a fundamentally different opportunity category with far more upside potential.

Do not be the person who watches from the sidelines

Pepeto is gaining an edge over every other presale because it offers something no other meme coin has: three real products, the PEPE cofounder, and $8.1 million in proof that investors believe in it. The people who hesitated on DOGE at fractions of a penny and SHIB before it exploded know exactly what it feels like to miss a life changing entry.

That regret is what drives smart investors to act early on projects like Pepeto. They can see the $8.1 million raised, the three products approaching launch, and the SolidProof audit, and they know this is the kind of setup that creates the next wave of crypto millionaires.

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Do not be the person who watches Pepeto list on exchanges and realizes they should have bought when it was still at six zeros. Visit the Pepeto official website and enter the presale today.

Click To Visit Pepeto Website To Enter The Presale

FAQs

Why are investors choosing Pepeto over other presales?

Three products close to launch, the PEPE cofounder, SolidProof audit, and $8.1M raised set it apart.

What makes Pepeto the next Pepe coin?

The same cofounder who built PEPE Coin is behind Pepeto, with real infrastructure this time.

Could Pepeto have stronger upside than rival presales?

At $0.000000186 with three products approaching launch, Pepeto has the steepest trajectory in the presale market.

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The post Next Pepe Coin: Why Investors Are Choosing Pepeto Over AlphaPepe and Other Presales as Exchange Listings Approach appeared first on Blockonomi.

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Arizona AG Files Charges against Kalshi over ‘Illegal Gambling‘

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Law, Arizona, Court, Crimes, Kalshi, Prediction Markets

Arizona Attorney General Kris Mayes announced that her office filed gambling and related criminal charges against the companies behind prediction markets platform Kalshi.

In a Tuesday notice, Mayes said that the charges alleged that Kalshi operated an “illegal gambling business in Arizona without a license” and offered election wagering, in violation of state laws. Arizona authorities alleged that Kalshi’s prediction markets platform allowed state residents to bet on event contracts related to sports and state and federal elections. 

“Kalshi may brand itself as a ‘prediction market,’ but what it’s actually doing is running an illegal gambling operation and taking bets on Arizona elections, both of which violate Arizona law,” said Mayes. “No company gets to decide for itself which laws to follow.”

Law, Arizona, Court, Crimes, Kalshi, Prediction Markets
Source: Arizona Attorney General’s Office

According to the AG’s office, the charges followed Kalshi filing its own lawsuit against Arizona “preemptively in an attempt to avoid accountability under Arizona law.” State authorities have filed similar lawsuits against the companies of prediction market platforms like Polymarket and Kalshi.

Related: Kalshi suffers court loss in Ohio over sports betting lawsuit

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“Sadly, a state can file criminal charges on paper-thin arguments,” a Kalshi spokesperson told Cointelegraph. “States like Arizona want to individually regulate a nationwide financial exchange, and are trying every trick in the book to do it. As other courts have recognized and the CFTC affirms, Kalshi is subject to federal jurisdiction. It’s different from what sportsbooks and casinos offer their customers, and it should not be overseen by a patchwork of inconsistent state laws.”

Last week, an Ohio judge denied Kalshi’s request for a preliminary injunction in a similar case against state authorities, saying that the company had failed to show that the sports event contracts available on the platform were subject to the “exclusive jurisdiction” of the Commodity Futures Trading Commission (CFTC). However, in February, a federal judge in Tennessee blocked state authorities from enforcing gambling laws against Kalshi.

CFTC chair backs “exclusive authority” over prediction markets

Now the sole commissioner on the CFTC since acting chair Caroline Pham stepped down in December, Chair Michael Selig has publicly said that the federal regulator would defend prediction market platforms from state-level lawsuits.

Last week, Selig opened a proposed rule up to public comment on how the Commodity Exchange Act would apply to prediction markets, potentially changing how the agency approaches regulation and enforcement in the future.

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