Ethereum (ETH) Price Prediction For February 25
Prices across the cryptocurrency market fell sharply after the $1.7 billion Ethereum (ETH) robbery at Bybit Cryptocurrency Exchange. However, now it seems Bybit has accumulated ETH again to continue its operations.
Bybit buys back Ethereum worth $87.5 million
Today, on February 25, 2025, Eyeonchain, a blockchain-based transaction tracker, was posted on X (formerly Twitter), and Bybit purchased a significant 36,893 ETH worth $87.5 million through an over-the-counter (OTC) transaction.
https://twitter.com/eyeonchain/status/1894371625841430880
However, this is not the first time since Bybit has purchased ETH. Data shows that the company has purchased nearly 212,101 ETH through OTC transactions, worth $574 million, over the past three days.
Given these massive purchases, industry giants may attract ETH purchases, potentially increasing buying pressure and driving further uptrend momentum.
Despite these large purchases, the price of ETH remains unaffected, witnessing a 10% drop in 10% over the past 24 hours. Currently, ETH is trading close to $2,423, a 70% increase in trading volume over the same period compared to the previous day.
Ethereum (ETH) price action and upcoming levels
ETH violates its extended merger zone due to price declines and market uncertainty and appears to be lowering towards the next level of support. Based on current market sentiment and recent breakdowns of key support levels, the asset is likely to experience a price drop of more than 10% to reach $2,200 in the coming days.
As of now, the asset is trading below the 200-day exponential moving average (EMA) of the daily schedule, indicating it is on a downward trend.
Traders bearish bets
With bearish price action, traders appear to be betting on short terms, betting that prices won’t rally soon, as chain analytics firm Coinglass reported.
Data from the ETH Exchange clearing map shows that traders have leverage of $2,355 on the lower side and $2,458 on the upper side. Over the past 24 hours, they have established long positions worth $247 million and short positions worth $296 million at these levels of overleverage.
These levels and positions suggest current market sentiment and appear to favor the short side in the short term.
