Ethereum’s Rollercoaster Ride

2025 has been a wild year for Ethereum! It kicked off with a gut-wrenching drop to $1,500, making investors pull their hair out. But wait! The “king of altcoins” decided to show off and hit a jaw-dropping new all-time high of $4,946, knocking the socks off many large-cap crypto assets along the way.

The Recent Turmoil

However, like a plot twist in a soap opera, the Ethereum price took a nosedive, cascading down to around $3,750 by Friday, October 10. This sudden madness in market activity has left many scratching their heads: does ETH still have some gas left in the tank, or has it finally run out of steam this cycle?

Insights From Alphractal

Recently, those brainiacs at the market analytics firm Alphractal dropped some intriguing news on social media. According to their analysis, it seems like the price of ETH hasn’t reached its peak just yet. Can you believe it?

What’s the Scoop?

Alphractal’s price evaluation hinges on something fancy called the Exchange Withdrawal Count metric. In layman’s terms, it measures how many crypto withdrawals are taking place on exchanges. This little number gives us a peek into how much Ethereum is flying out of centralized exchanges.

Historical Patterns vs. Current Trends

Get this: Alphractal pointed out that throughout past bullish runs, spikes in the Exchange Withdrawal Count often aligned with Ethereum reaching its price peaks. Typically, when ETH gets hyped, investors rush to withdraw their precious coins from exchanges. But in a shocking twist, this trend seems to have flipped!

A New Twist in the Tale

The on-chain firm highlighted that as ETH made its recent climb to a new all-time high, the Exchange Withdrawal Count has actually seen a steady decline instead of the expected rise. Yikes! This deviation might be a telltale sign that Ethereum still has more room to grow, despite the recent drop that left many feeling a bit woozy!

The Current Situation

As we check in on Ethereum’s current affairs, the price is hovering just above $3,700, with a slight 3% dip in the past 24 hours. Looking at the broader picture, according to CoinGecko, the altcoin’s value is down over 16% for the past week. Can you say rollercoaster?