Bitcoin($BTC) and altcoins continue their recovery attempts in bear market conditions. During the latest rally wave, Bitcoin surpassed $72,000 and Ethereum ($ETH) exceeded $2,100.
However, according to analytics firm CryptoQuant, the decline may not be over yet.
According to Julio Moreno, head of research at CryptoQuant, if the bear market continues, Ethereum price could fall to $1,500.
According to Julio Moreno, speaking to The Block, if the decline of the cryptocurrency market continues, the price of $ETH could fall to around $1,500 by the end of the third quarter or the beginning of the fourth quarter of 2026.
The analytics firm identifies an “adoption paradox,” noting a significant gap between network adoption and price performance.
At this point, analysts note that Ethereum’s daily active addresses recently hit an all-time high, surpassing 2021 bull market levels, but the $ETH The price has fallen more than 50% from its cycle high.
This marks a break from past trends where increases in network activity typically coincided with price increases.
CryptoQuant concluded that Ethereum has undergone structural changes compared to previous cycles, and these changes could push the price down to $1,500 if the bear market continues.
“In the past, network activity growth and price increases occurred simultaneously, but today the gap between user growth and price developments is widening. »
Moreno also noted that the higher rate of foreign exchange flows for $ETH Compared to Bitcoin, this indicates stronger selling pressure on $ETHwhich helps to explain its underperformance compared to $BTC.
Moreno concluded by saying: “For $ETH To get out of the bear market, we need positive capital inflows and less currency inflows.
*This does not constitute investment advice.
