Ethereum (ETH) remains under the $2,700 level despite Bitcoin’s resilience, as the broader crypto market and top altcoins rebound. Traders appear to be shrugging off concerns over China’s DeepSeek artificial intelligence advances and U.S. President Donald Trump’s tariffs.

The largest altcoin’s price performance remains underwhelming, however this could change as sentiment among traders turned positive, according to data provider Cryptoeq. 

Ethereum price struggles even as on-chain metrics turn bullish

Ethereum’s holder count has continued to rise steadily, according to on-chain data from intelligence tracker Santiment. On Tuesday, the number of Ethereum holders climbed to 138.98 million, marking an increase of nearly 500,000 new Ether holders holders in the past week. This supports a bullish thesis for the altcoin. 

The Network realized profit/loss metric, which measures the net profit or loss of Ether tokens moved daily, showed large negative spikes between Jan. 30 and Feb. 8. 

A large number of traders selling ETH at a loss is typically considered a sign of capitulation. Ethereum traders may be exchanging their ETH for stablecoins or other cryptocurrencies, which could signal a potential price recovery in the near future.

Ethereum supply held by whales or large wallet investors, excluding exchange wallets has climbed by nearly half a million ETH tokens in February 2025. 

Metrics from derivatives traders show the sentiment shifting towards “bullish.” The funding rate aggregated across derivatives exchanges turned positive, after several negative spikes in the chart. The total open interest or value of all open derivatives contracts in

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Author: Ekta Mourya