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
Ethereum hits the crucial $2,500 mark: capital outflows surge, but valuation risks emerge
Ethereum's current price remains above $2,100 and is in an upward channel, but a breakthrough of the key resistance at $2,393 is needed to continue rising toward $2,500. Meanwhile, on-chain fund inflows are increasing, indicating that investors are inclined to hold long-term, but valuation pressure is rising, and the impact of on-chain activity on price should be monitored. The short-term trend will depend on breaking through resistance levels and changes in market demand.
GateNews36m ago
Bitmine 推以太坊質押平台「MAVAN」，手握 466 萬枚 ETH 要全數質押
Bitmine Immersion Technologies announces the launch of the Ethereum staking platform "MAVAN," providing services for institutional investors and digital asset custody institutions. MAVAN will utilize 4.66 million ETH to earn staking rewards and plans to expand into more blockchain sectors. The platform is expected to generate nearly $300 million in staking rewards annually.
区块客45m ago
Welcome to the era of cryptocurrency! Leading US stock broker IB Interactive Brokers now accepts Bitcoin and stablecoin deposits.
Interactive Brokers announces the launch of cryptocurrency deposit functionality, allowing users to directly transfer cryptocurrencies such as Bitcoin and Ethereum into their platform without selling. This move aims to reduce trading costs and improve asset allocation efficiency. Earlier this year, Interactive Brokers already introduced stablecoin deposit services and continues to expand the available stablecoin options.
ChainNewsAbmedia1h ago
Fenbushi Co-Founder Offers Bounty to Recover $42M Crypto Hack
Fenbushi Capital co-founder Bo Shen has initiated a bounty program to recover $42 million stolen in a 2022 hack, offering 10-20% rewards for contributions to recovery. Recent advances in blockchain analysis have improved investigative capabilities, with some funds already frozen.
GateNews1h ago
Google aims to complete its quantum transition by 2029, while the Bitcoin community's consensus remains unclear.
As quantum computing technology advances, Google aims to complete post-quantum cryptography migration by 2029 to address the threat of "Q-Day." Ethereum and Solana are actively responding by launching quantum-resistant technologies, while the Bitcoin community is divided, and their response measures are yet to be determined. 2029 will be a critical milestone in the post-quantum era.
ChainNewsAbmedia1h ago
