Ethereum price has had one of the most interesting price movements so far in 2025, falling as low as $1,500 earlier this year. The “king of altcoins” has since surpassed most large-cap crypto assets, reaching a new all-time high of $4,946.
The market-wide slump sent the price of Ethereum down double digits to around $3,750 on Friday, October 10, causing distress among investors. However, the recent surge in volatility has raised questions about whether there is still fuel left in ETH or if the altcoin is out of this cycle.
Number of ETH exchange withdrawals in a downward trend: Alphractal
In a recent post on According to the blockchain platform, ETH price does not appear to have reached its peak in the current cycle.
This price assessment is based on the Exchange Withdrawal Count indicator, which measures the number of cryptocurrency withdrawals made on the exchange during a specific period. This indicator provides insight into the volume of cryptocurrency (in this case Ethereum) leaving centralized exchanges.
Alphractal noted that spikes in the Exchange Withdrawal Count often coincide with Ethereum price highs. This means that investors tend to withdraw assets from exchanges as ETH prices surge to new highs during previous bull markets.
Source: @Alphractal on X
However, Alphractal highlighted a departure from this historical pattern after Ethereum's latest record reached a new all-time high. According to the onchain company, as the price of Ethereum moves towards new highs, the number of exchange withdrawals is steadily decreasing rather than increasing.
Ultimately, Alphractal suggested that this deviation from the general trend could be a sign that the Ethereum price has not yet reached its peak in this cycle. Nonetheless, the on-chain firm noted that the second-largest cryptocurrency may be witnessing a historical exception, especially considering its recent price decline.
Ethereum price at a glance
As of this writing, the price of ETH sits at just over $3,700, reflecting a 3% decline over the past 24 hours. The altcoin's value has fallen more than 16% in the past seven days, according to data from CoinGecko.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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