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Ethereum risks another 60% drop after breaking below $1K to 18-month lows -Breaking


Ethereum could see another 60% drop following a break below $1K-18-month lows

Price of Ethereum’s native coin, EtherETHThe price of bitcoin fell to below $1,000 in June 18th, as the continued sell-off on the crypto market continued.

Ether reached $975, the lowest price since Jan 2021. It will lose 80% of its valueFrom its November 2021 record high. Concerns about Federal Reserve’s future performance led to the decline. 75 Basis pointsA rate increase, which pushed both stocks and cryptocurrency into a bear market.

Price chart for the week. Source: TradingView
DeFi total value of Ethereum Glassnode
Chart of weekly prices for ETH/USD. TradingView