Ethereum Logs Smallest Year-To-Date Loss Since January As Rally Runs On Thin Leverage

• Ethereum's year-to- date loss narrowed to about 7%, its smallest weekly decline since January.

• Futures open interest remains well below last year's peak, at about $14 billion.

• U.S. spot Ethereum ETFs saw nearly $93 million in net outflows in October.

Ethereum's (ETH) recovery is gaining ground without the heavy derivatives leverage that accompanied its previous peaks, giving the latest rally a notably different setup.

ETH has narrowed its 2026 loss to about 7% after falling nearly 47% at its June low, while futures open interest remains well below last year's peak. Traders are now watching the $2,800 area for evidence that the rebound can turn into another leg higher.

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Ethereum Cuts 2026 Loss After Nearly 47% Drawdown

The second largest cryptocurrency started the year strong but slipped into losses in late January. By early June, it was down nearly half for the year, about 47%. It has climbed back since. On a weekly close, Ethereum is now down about 7%. This makes it the smallest drop in close to nine months.

Ethereum's price was trading at $2,700, up 0.6% in the last 24 hours. On Stocktwits, retail sentiment around Ethereum improved to 'neutral' from the 'bearish' zone, accompanied by 'normal' chatter levels over the past day.