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ETH Faces Major Downward Pressure, Says Peter Schiff
In an X post, Peter Schiff has pointed to Ethereum’s recent price slump as evidence of a long-term decline for the second-largest cryptocurrency. According to Schiff, Ethereum is now in an “official bear market,” erasing the gains recorded in Q2 2025 following a torrid correction.
The Ethereum price slumped to an intraday low of $3,829 from a high of $4,136, representing a near 6% decline over the last day. On the seven-day charts, Ethereum’s price performance is even grimmer, with the largest altcoin losing 15.55% despite surging trading volumes.
Peter Schiff noted that the decline comes amid heavy ETH adoption by corporate treasuries in recent weeks. Despite the streak of purchases, Schiff pointed out that Ethereum has shed 20% from its August peak, predicting that Bitcoin is in line to face a bear market.
“Ethereum just tanked below $4,000. Despite all the Ethereum Treasury company buying, the number 2 crypto is now in an official bear market, down 20% from its August record high,” said Schiff.
 
At press time, Ethereum’s daily trading volumes are up by 115%, raking in an impressive 70 billion. While a spike in trading volumes is often the precursor for price rallies, Ethereum’s technicals are painting a grim picture, with end-of-year projections faltering following recent price performances.
Barely a week ago, predictions of ETH price surging to five digits flooded the space, leaning on incoming innovation, positive macroeconomic sentiments, and rising ETF inflows. However, recent comments by Federal Reserve Chair Jerome Powell that equities are overvalued may have rattled investors.
Furthermore, a liquidation cascade with ETH longs bearing the brunt has sent the asset price tumbling, while the breach of the $4,000 critical support has triggered a wave of algorithmic selling.
In a follow-up tweet, Schiff predicted that a price rebound remains far off for ETH and BTC. Bitcoin has seen its value plummet below the $110,000 mark, with Schiff drawing a comparison to silver’s over 3% gain in the last 24 hours.
“We are not about to enter another crypto winter, as that implies another spring will soon follow,” said Schiff. “Get ready for a crypto ice age.”