Ethereum's price dropped significantly, hitting a low of $2,080 on February 3, marking its lowest point since January 2024. This decline followed a bearish trend driven by geopolitical tensions, particularly after President Trump's tariffs on Canadian, Mexican, and Chinese imports triggered a risk-off sentiment among investors. The market experienced a mass sell-off, leading to $2.32 billion in crypto liquidations, with Ethereum seeing $626 million. Ether's open interest fell 28% in just three days, indicating aggressive unwinding by futures traders. Following the initial drop, ETH managed to recover nearly 30% to around $2,700, though this surge raises questions about market stability. Analysts highlighted that Ethereum has lost crucial support levels while traders may remain cautious in light of recent volatility. The overall sentiment among Ethereum supporters appears subdued, raising concerns about potential apathy within the community.

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