Analysis Firm Warns About Ethereum (ETH): “It’s Not Time to Buy Yet, Because…!”

Bitcoin (BTC) and the cryptocurrency market failed to sustain the recovery driven by NVIDIA amid mixed US employment data and rapidly declining expectations for a Fed interest rate cut.

This caused Bitcoin to fall to $85,700 and Ethereum to fall below $3,000.

Ethereum (ETH), the largest cryptocurrency behind Bitcoin in 2025, is currently 44% below its ATH, despite setting a new record in August, raising hopes that its rise will continue.

While this sharp decline in ETH has fueled speculation that the price may have reached a bottom, one analyst said that Ethereum is not yet a good buy.

While Ethereum has entered an attractive price range in terms of dip-buy valuations following its recent sharp declines, 10x Research analysts said that it is not yet a good time to buy ETH as there are no clear signs of recovery.

10X Research analysts noted in a recent report that despite ETH reaching the previously identified $2,700-$2,800 support zone, ETF holders continue to forcefully close their positions and no clear signs of recovery have emerged yet.

10X Research added that Ethereum and the market remain unstable, and increased volatility is expected to continue until a clear trend reversal is confirmed.

Analysts also noted that the recent decline caused the total cryptocurrency market capitalization to drop by approximately 30%, increasing valuation losses for firms with digital asset treasury strategies (DATs).

As an example, analysts noted that Bitmine faced an unrealized loss of approximately $4 billion in ETH holdings just four months after its buildup.

Bitmine reportedly purchased a total of $5.5 billion worth of ETH by mid-August, but the market has moved in the opposite direction since then.

*This is not investment advice.

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