Ethereum (ETH) has had a turbulent 2025, with its price dropping by 13.92% within the last 365 days. The coin looks likely to set the most bearish price history if it closes on a negative note this month. However, Ethereum still has one chance and less than 96 hours to overturn it.
Ethereum’s bearish outlook defies historical precedence
As highlighted by analyst Ted Pillows, if Ethereum closes December in the red, it will mean the coin underperformed for three quarters of the year. This bearish scenario mirrors the 2018 bear market for the coin.
The price performance of the asset has stunned many investors, particularly considering its uptick above $4,000 in August 2025. Many traders anticipated a further climb and a surge toward $5,000 if momentum were sustained.
However, Ethereum has declined and has not found stability above $3,000 since mid-December. The price kept fluctuating and left traders unable to predict its possible upward potential.
As of this writing, Ethereum changes hands at $2,929.60, which is a 1.13% decline in the last 24 hours. Its price has fluctuated between $2,894.95 and $2,983.69 as volume plunged within the period. Trading volume has dropped by 27.6% to $12.19 billion as a result of increased caution on the part of market participants.
Ethereum is facing this bearish outlook despite an expected 5.79% increase as per CryptoRank data. Over the past 10 years, Ethereum has maintained an average growth of over 5% in the month of December, with its highest in 2017, when it recorded a 70% increase.
If December closes red, it will be the 9th red month for $ETH in 2025.
This has only happened once, and that too in the 2018 bear market. pic.twitter.com/UPOo62lNrA
— Ted (@TedPillows) December 26, 2025
So far in 2025, Ethereum has only managed to surpass its monthly average in May, July and August, when it registered 41.1%, 48.7% and 18.7%, respectively.
As the broader crypto market counts down to the end of 2025, Ethereum has less than 96 hours to change history.
Community expectant of bullish rebound in 2026
Ethereum’s woes this December might have been compounded by developments in the community. Notably, a wallet suspected to belong to Erik Voorhees, which has been dormant for nine years, was reactivated and dumped $13.42 million worth of ETH on the market.
Similarly, JAN3 CEO Samson Mow has also liquidated all Bitmine Ethereum holdings. Mow says they have decided to focus exclusively on Bitcoin, a move that suggests waning confidence in Ethereum.
Such bearish moves have a way of influencing market sentiment and the overall price outlook. Despite these developments, most community members are optimistic that 2026 could see a massive rally.
