Ethereum's price dropped to a five-month low of around $2,300 due to concerns over a global trade war triggering a risk-off sentiment. The altcoin market also experienced significant losses, with major altcoins like XRP, Solana, Dogecoin, and Cardano recording losses between 15-30%. Ethereum saw its largest liquidation event in two years, with traders pulling back from leveraged positions. Despite the sell-off, signs of dip buying have emerged, with investors withdrawing $326.7 million worth of ETH from exchanges and whales buying Ethereum following the price plunge. Analysts speculate that Ethereum could see a short-term bounce toward $2,700, but without strong catalysts or fresh narratives, it may remain weak against Bitcoin.



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