Matrixport: Ethereum Nears FTX Flash Crash Era Low, Weak Fundamentals

BlockBeats News, March 31st, Matrixport released its daily chart analysis, stating that since reaching a high of $3668 on January 7, 2025, Ethereum has cumulatively dropped by 50%. The on-chain activity of the entire Ethereum ecosystem has slowed significantly, and with weakening fundamentals and sustained low ETH demand, market sentiment is clearly bearish.

As several key risk events loom, the derivatives market has begun pricing in a significant 10% volatility (in either direction) for the upcoming week. It is worth noting that the Ethereum price is gradually approaching the lows seen during the FTX collapse. Furthermore, FTX is expected to commence repayments to major creditors starting on May 30, 2025.