February 10 News: Ethereum (ETH) continues to fluctuate at low levels, with the latest price hovering around $2,000 and failing to regain the $2,100 resistance level. As on-chain valuation metrics enter historically sensitive zones, the market is reassessing whether ETH is approaching a long-term bottom or if there is still a risk of a secondary decline.
Crypto analyst Michaël van de Poppe pointed out that Ethereum’s current Market Value to Realized Value (MVRV) ratio has significantly deviated from its “fair range,” a level that historically only appears at the end of major bear markets. He mentioned that during the COVID-19 crash in 2020, the 2018 bear market bottom, the Terra-Luna collapse in 2022, and the market sharp decline in April 2025, ETH’s valuation also fell into similar ranges, followed by medium- to long-term rebounds.
However, on-chain analyst Jao Wedson offered a more cautious interpretation. He stated that Ethereum’s MVRV Z-Score has fallen to -0.42, entering the “capitulation zone,” but remains above extreme values associated with clear bottoms in the past, such as -0.76 at the end of 2018. This indicates that market pressure is real, but panic selling has not yet reached historical extremes.
Wedson emphasized that true market bottoms are rarely formed in a single event but develop gradually after multiple failed rebounds and range-bound oscillations. Therefore, even if valuation metrics suggest deep undervaluation, the price path may still experience significant volatility.
From the current structure, ETH is in a stage where opportunities and risks coexist. Valuation levels provide a logical basis for long-term allocation, while momentum and sentiment indicators still suggest that short-term uncertainty has not been fully resolved. For investors, maintaining patience and risk management may be more crucial than betting on a specific timing.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH 15-minute pullback of 1.00%: Large capital selling and leveraged derivatives amplify short-term volatility
2026-04-06 16:45 to 2026-04-06 17:00 (UTC), ETH saw a brief 1.00% drop within 15 minutes; the price fell from 2168.6 USDT to 2140.3 USDT, with a swing of 1.31%. This round of abnormal price movement has drawn market attention, with heightened short-term volatility and a corresponding increase in trading volume.
The main driver behind this move is on-chain data showing that large ETH transfers of more than $10M per transaction were concentrated into a certain major exchange; the related net inflow of funds reached as high as 6,617.12 ETH. After the funds arrived,
GateNews2m ago
Grayscale transferred 8,136 ETH to a certain CEX about 2 hours ago, worth approximately $17.5 million
Gate News update: On April 6, according to Arkham monitoring, 2 hours ago, Grayscale transferred 8,136 ETH to a certain CEX, worth approximately 17.5 million USD.
GateNews1h ago
ETH short-term rises 0.59%: large funds clustered buying drives it, and liquidity shocks amplify volatility
From 14:15 to 14:30 (UTC) on 2026-04-06, the ETH price realized a return of +0.59%. It traded within the USDT 2142.15 to 2165.93 range, with an amplitude of 1.11%. The short-term rise was accompanied by a clear increase in trading volume; market attention improved, and real-time sentiment showed bullish/positive buying pressure, with volatility intensifying.
The primary driver of this unusual move is that a large amount of capital entered and concentrated in the market in a short period of time. On-chain data shows that during this window, the total trading volume across ETH’s main trading pairs increased by about 20%, and many individual orders were greater than 500 ETH; the indicators are significant.
GateNews2h ago
BitMine position update: holds over 4.8 million ETH and 198 BTC, with total assets of $11.4 billion
BitMine released a holdings update on April 6. The total value of its crypto assets and moonshots reached $11.4 billion. It holds ETH, BTC, and multiple equity positions, and has been approved to upgrade from NYSE American to the NYSE main board. The stock will begin trading in the new market on April 9.
GateNews4h ago
Financial and Crypto Expert Reveals Two Reasons to Be Bullish on Ethereum Over Bitcoin
Financial and crypto expert reveals two reasons to be bullish.
Specifically, he says he is more bullish on Ethereum over Bitcoin.
He states that an ETH investment now could be the best investment ever.
The crypto community has been debating the pros and cons of Bitcoin and altcoins
CryptoNewsLand5h ago
