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 spot ETF saw a total net inflow of $13,818,400 yesterday, with Grayscale ETH leading at a net inflow of $13,317,300.
According to SoSoValue data, on February 10th, the total net inflow of Ethereum spot ETFs was $13,818,400. Among them, Grayscale Ethereum Mini Trust ETF had the highest net inflow, totaling $13,317,300. Currently, the total net asset value of Ethereum spot ETFs has reached $11.755 billion, with a historical cumulative net inflow of $11.880 billion.
GateNewsBot3m ago
Tom Lee: If Mr. Beast launches an IPO and achieves 100x growth, it will cause the BMNR price to triple from the current level.
Tom Lee reposted that Bitmine Marine holds a 4% stake in Beast Industries. If the IPO achieves a 100-fold increase, this investment will triple the BMNR price. BMNR aims to become a trillion-dollar market cap Ethereum infrastructure company, with an expected 200-fold growth over the next 10 years.
GateNewsBot9m ago
LayerZero releases Zero World computing architecture sparks heated discussion, with multiple overseas KOLs calling it "the most important blockchain since Ethereum"
LayerZero releases the new L1 architecture Zero, achieving 100x scalability under decentralization through ZK proofs, sparking widespread discussion. Supporters call it a major breakthrough in blockchain, while skeptics point out that the technology is still in the white paper stage and raise concerns about token economic risks.
GateNewsBot9m ago
BitMine Totally Acquires 4.3M ETH Amid Market Downturn, Betting on Ethereum's Future
BitMine Immersion Technologies has made a monumental \$8.7 billion acquisition of 4.3 million Ethereum (ETH), solidifying its position as the world's largest corporate ETH treasury.
This aggressive accumulation, including an additional 40,613 ETH purchased last week, comes despite the firm facing nearly \$8 billion in unrealized losses. Executive Chairman Tom Lee defends the strategy, citing Ethereum's strengthening fundamentals and viewing the price pullback as a historic buying opportu
CryptopulseElite46m ago
Goldman Sachs to reduce holdings of Bitcoin and Ethereum ETFs in Q4 2025, while increasing holdings of XRP and Solana
On February 11, news reports indicate that according to the latest 13F filing submitted by Goldman Sachs to the U.S. Securities and Exchange Commission, the company made significant adjustments to its cryptocurrency ETF holdings in Q4 2025, reducing holdings of spot Bitcoin and Ethereum ETFs while increasing holdings of newly launched spot XRP and Solana ETFs.
As of December 31, 2025, Goldman Sachs held approximately 21.2 million shares of Bitcoin ETF, with a total value of about $1.06 billion, down 39.4% from the third quarter. At the same time, the company held approximately 40.7 million shares of Ethereum ETF, valued at around $10 billion, a 27.2% decrease year-over-year. The reductions occurred against the backdrop of Bitcoin prices falling from approximately $114,000 to about $88,400 and Ethereum from $4,140 to $2,970 in the fourth quarter.
GateNewsBot1h ago
"On-chain stock investors" have a short position of $40 million related to gold, and they continue to profit from shorting ETH relative to SOL exchange rates.
Recently, a whale named "On-Chain Shareholder" shorted the on-chain stock and commodities markets with approximately $80 million, while investing $40 million in ETH, SOL, and other assets, increasing short positions in PAXG and establishing ETH/SOL short positions. Currently, this address has realized a profit of about $12.7 million.
GateNewsBot1h ago
