Ethereum Slips Below $2,200 Amid Broader Crypto Market Crash

Ethereum, the second-largest cryptocurrency by market cap, has slipped below $2,200 amid a broader downturn in the crypto market. This decline comes amid heavy selling pressure across major digital assets, sending their prices to severe lows. If Ether continues its negative trend, experts believe that the altcoin may plummet to historic lows.

Broad Crypto Market Crash Drags Ethereum to Severe Lows

The global crypto market remains under heavy pressure, with digital assets continuing to plummet. The ongoing liquidation has dragged the total market capitalization and prices down to levels even below those seen during the October 11, 2025, debacle. Thus, the current crisis marks the largest crypto market crash ever seen.

Currently, the market has reached $2.59 trillion, with a notable decline of 2.5% in a day. Bitcoin is trading near the $75k level, marking nearly a 10-month low. In line with the major trend, Ethereum has also plummeted to levels not seen since June 2025.

As of press time, the ETH price is marked at $2,243, down by a massive 7% in a day. Over the past week and month, the token has slipped by 22% and 27%, respectively.

This further bolsters CoinGape’s Ethereum price prediction. Recently, experts projected Ether’s possible crash to $2k while Vitalik Buterin withdrew $44 million worth of tokens.

Why is the Ethereum Price Down Today?

Significantly, the Ethereum price drop is driven by the major crypto market crash, which saw a huge wave of liquidations across multiple assets. According to CoinGlass data, more than $700 million in leveraged positions were wiped out in just 24 hours. Ethereum was hit especially hard, accounting for nearly $300 million in long positions.

Another major reason for the ETH price downturn is the major selloffs from ETH whales. Amid the sustained bearish trend of Ether, large holders dumped their holdings. In addition, Ether ETFs also recorded about $200 million in daily outflows.

As market analyst Ted predicted, if Ethereum continues this downtrend, it could lead to a major collapse. The analyst identifies the $2,000-$2,200 zone as a critical support level. If Ether fails to hold this zone, the price could slip to April 2025 lows near $1,400.

$ETH tapped the $2,000-$2,200 support zone today.

This is a must-hold zone for Ethereum; otherwise, it could drop towards April 2025 lows. pic.twitter.com/SO2QIVJfDE

— Ted (@TedPillows) February 2, 2026

It is worth noting that the analysts like Jake Wujastyk projected Ether’s potential decline to $1,800-$1,850 levels, as CoinGape reported recently. Thus, Ethereum is likely to continue its downward pull, reaching severe lows.