Ethereum continues to struggle under persistent selling pressure, with price action reflecting a fragile market environment and cautious investor sentiment. Since peaking in October, Ethereum has lost more than 60% of its value, marking one of the sharpest corrective phases of the current cycle. Analysts increasingly warn that downside risks remain elevated, particularly if broader crypto liquidity conditions fail to stabilize in the near term. Related Reading: Liquidity Or Liability? History’s Hard Lessons For The XRP Momentum Play Despite the negative price performance, on-chain data suggests a more nuanced underlying dynamic. A recent CryptoQuant report indicates that Ethereum whales are currently holding positions at a loss, with the magnitude of those unrealized losses comparable to levels historically seen near previous market bottoms. This pattern often emerges late in corrective cycles, when large holders continue accumulating rather than distributing. Notably, the report highl