The price of Ethereum (ETH) has been experiencing volatility, with a drop of over 10% in the last 24 hours. This has resulted in the possibility of recording its worst February performance ever if it remains below the $2,400 level. The global crypto market also saw a significant drop, with Bitcoin falling below the $88,000 zone and the cumulative market cap decreasing by over 8%. The market was further impacted by news of the Bybit hack, which saw $1.5 billion disappearing from the market, allegedly due to the actions of North Korea's Lazarus Group. However, there are still hopes that Ethereum will recover, with traders looking to see if it can reclaim the $3,000 mark. The market sentiment is currently uncertain, and there are concerns about potential liquidations in MakerDAO if ETH falls below certain levels. Despite the recent sell-off, some experts remain bullish on Ethereum, highlighting factors such as its dominance in the stablecoin market and potential regulatory tailwinds.



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