Ether slides 28% in a week as risk-off mood grips global markets

[kevin1]

Ether plunged 28% in seven days, falling to $2,110, as investors cut risk across financial markets and heavily leveraged traders were wiped out. The sell-off coincided with a broader retreat from tech stocks, with the Nasdaq down 1.4%, pushing investors toward cash, gold, and short-term government bonds.

Market sentiment weakened further after Nvidia CEO Jensen Huang denied reports of a massive investment in OpenAI, raising concerns that valuations tied to artificial intelligence had become stretched. Disappointing earnings from PayPal added to the pressure, while gold rose 6% and silver gained 9%, signaling growing fears of an economic slowdown.

[mendez]

once eth funding flipped negative you knew things were ugly. market basically screaming that everyone wants out at the same time.