- ETH dropped 4.36% to $2,047 after Trump’s April 2 geopolitical address triggered mass deleveraging.
- Over $1B in Ether derivatives were sold within one hour; $90.83M in long liquidations followed.
- Spot ETF outflows reached $7.10M in April, extending a streak running since November 2025.
- Analyst Javon Marks flags a Hidden Bull Divergence that could push Ethereum crypto toward $4,811.
Ethereum price fell 4.36% on April 2, dropping from a previous close of $2,140.35 to $2,047.05 after President Trump’s address escalated tensions around Iran and sent risk assets into immediate retreat. Within a single hour, over $1 billion in ETH derivatives sell orders flooded markets, with $968 million on Binance alone. That kind of volume in that kind of window doesn’t come from retail; it’s forced deleveraging, and it hit fast.
The broader crypto market sold off in parallel. The total market cap declined 2.58%, while Bitcoin’s price fell 2.45%. Ethereum coin took a slightly sharper hit, which tracks ETH’s higher beta on macro-driven moves, and leveraged positioning amplifies that on the way down. Long liquidations reached $90.83 million over 24 hours, adding mechanically to the selling pressure as cascades triggered stop levels across the book.
Ethereum Network Stays Busy, But ETF Flows Signal Persistent Institutional Hesitation
On-chain, there’s a disconnect that’s worth watching. Santiment data shows over 788,000 addresses interacting with the Ethereum network daily, with 255,000 new addresses created each day, figures near all-time highs.
Meanwhile, the institutional side tells a different story. ETH spot ETF data from SoSoValue shows net outflows of $7.10 million so far in April 2026, following $46.01 million in March and $369.87 million in February.
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The cumulative net inflow still stands at $11.55 billion, with total net assets at $12.21 billion, but the monthly flow trend has been consistently red since November 2025. That means a sustained withdrawal pattern that’s compressing the asset base from $19.15 billion last November to its current level.
Funding rates are currently negative, reflecting net bearish positioning in perpetuals. Open interest sits at $27.83 billion, down 7.36% on the day, according to Coinglass.
Ethereum Price Outlook: Bulls Point to Divergence, Bears Watch $1,775
Analyst Ted Pillows notes that a $250 million swap into ETH by exploiters has helped Ethereum coin hold above the $2,000 level, a key line on his chart. His structure maps resistance at $2,170, $2,400.73, and $2,624.07, with downside targets at $1,775 and $1,693.87 if $2,000 breaks and the downtrend accelerates.
Javon Marks is watching a longer-dated setup. His Ethereum price prediction is based on a Hidden Bull Divergence visible on the 3D chart, a pattern he first flagged in January, when ETH was tracking toward a +44% move back to $4,811.71. That target remains intact.
If Ethereum price clears $4,811 convincingly, Marks puts $8,557.68 as the next objective. The divergence has been holding, but so has the resistance. The derivatives data, with the Long/Short account ratio at 0.9673 on Binance, suggests the market isn’t positioned for that recovery yet, as buyers are present but not dominant.
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