2026-01-14 11:23:13

The start of 2026 has been tough for the entire crypto market. ETH has been falling behind since the beginning of the year at the $2900 mark, dropping to below $2800 within just a few days. The latest price hovers around $2786, with the year's gains completely wiped out and even turning negative. Compared to the performance of other assets during the same period, gold and US stocks tell a completely different story.

First, looking at the safe-haven asset gold, on January 12th, COMEX gold prices broke through the $4600/oz mark to hit a new all-time high, with a single-day increase of over 2%. This is true of a genuine bullish rally. US stocks haven't been idle either; the Nasdaq has been climbing steadily, continuously hitting new highs, with tech earnings data supporting the stock prices. The upward momentum is unstoppable. One is driven by safe-haven logic, and the other by clear earnings support—both trends are very clear.

Turning to ETH, the data is a bit heartbreaking. The total liquidation amount across the entire network in 24 hours exceeded $320 million, with over 85% of liquidations being long positions, causing retail traders chasing the trend to be collectively wiped out. The hype once driven by Layer2 concepts now barely causes a ripple.

Why is this happening? The core issue is that ETH itself has failed to meet market expectations. From a capital perspective, institutional investors are quietly withdrawing. ETH ETFs in the US have experienced three consecutive days of net outflows, with a weekly capital outflow reaching $187 million. As a result, the market's support strength has diminished, and ETH naturally can't rally. From a narrative perspective, no matter how fancy the Layer2 story was earlier, it couldn't stop the cooling of enthusiasm. Market attention has already shifted elsewhere. Without new capital entering and with market narratives fading, ETH's recent correction feels especially heavy.

ETH-4,45%

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ZKProofster

· 01-17 11:02

tbh the institutional exit from eth etf is the real tell here... when the smart money starts pulling, retail getting liquidated is just the appetizer. layer2 narratives can't compete with actual protocol fundamentals, and that's the mathematical reality nobody wants to admit.

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PancakeFlippa

· 01-17 06:54

Damn, what is ETH doing again? The institutions already ran away, and we're still here catching the bag? --- Layer2 has been hyped for so long, but it's all been for nothing. Now there's not even a splash, haha. --- 3.2 billion in liquidation, over 85% long positions crushed. Retail investors are really suffering. --- Gold and US stocks soar, but ETH falls behind. That logic is just ridiculous. --- The withdrawal of 187 million by institutions is a clear signal. No one supporting it, so of course it can't go up. --- Losing the narrative means there's no story to tell anymore. That's just how the crypto world is. --- Why does it feel like 2026 is even tougher than 2025? Has ETH given up? --- By the way, why get so hung up on Layer2? Just switch to it if you need to.

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SandwichDetector

· 01-17 06:42

It's the same old story of institutions fleeing, retail investors getting crushed. ETH really has no more stories this time. Gold and US stocks are all taking off, but ETH is the only one lagging behind. What does that mean? Nobody believes anymore. Layer2 hype has cooled down; the excitement has faded and the novelty is gone. The 320 million liquidation, with 85% being long positions, is really heartbreaking data. Institutions are quietly fleeing, and with the capital chain broken, they naturally can't hold on. It feels like Ethereum needs to wake up; just telling stories isn't enough.

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CexIsBad

· 01-14 11:52

Getting smashed again? Institutions run away, retail investors take the fall. Isn't this script getting old? ETH's current wave really feels like it’s being hammered down forcefully. Gold and US stocks are taking off, but ETH keeps dropping. Honestly, this comparison is a bit heartbreaking. Institutions are quietly withdrawing, retail investors are still sleepwalking. It's time to wake up. The Layer2 story is over; there's no more momentum, right? That's hilarious. The market fundamentals say it all. ETF net outflows of 187 million, that’s the answer. This is how the crypto world works—if there's a narrative, it gets hyped; if not, everyone lays low. So damn realistic. Getting drained right at the start of the year. Who dares to jump in now?

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zkProofGremlin

· 01-14 11:52

It's the same narrative again—institutions retreating, stories cooling off... Does no one really believe in Ethereum's fundamentals anymore? Layer 2 is just that? The hype is gone when it's gone. Gold has surged so much; I think risk assets should make way. Retail investors got hammered so badly; institutions have already run away. If ETH didn't have these FOMO bagholders, it would have died long ago. A $320 million liquidation order, $187 million outflow in a week—these numbers are pretty hard to watch. Why can gold and US stocks keep rising steadily, while ETH gets hammered? Narrative fading = capital dumping; this logic makes sense. I just want to know when the next concept will come to save the market.

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RetailTherapist

· 01-14 11:41

It's another rhythm of institutions harvesting profits; once the Layer2 story is over, people just run away.

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ForeverBuyingDips

· 01-14 11:41

Institutions have quietly left again, retail investors are still holding the bag. This is the fate of ETH. --- Gold has broken through 4600, but our ETH is still dithering on the floor. Where is the Ethereum ecosystem promised? --- No matter how good the Layer2 story sounds, someone has to buy in. Right now, no one believes it. --- 3.2 billion in liquidation, over 85% of longs crushed. I just want to know how many people were still shouting buy yesterday. --- Capital outflow of 187 million, that's the real story. All narratives are useless. --- Compared to gold and US stocks, it's awkward. They have fundamentals supporting them; what about us? --- Another concept has cooled off completely. Now we have to wait for some new story to save the market. --- ETH's recent correction isn't over. Institutions have already left, and retail's bottom-fishing efforts are hardly effective. --- Basically, no one is left to take the risk. The story can't go on. --- Looks like we have to wait for the next hot topic. ETH probably has no short-term hope.

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BlockchainArchaeologist

· 01-14 11:32

Here comes the pump and dump again; institutions' moves make ETH have to kneel. Gold and US stocks both have stories; what about ETH? Now it's just stories left. The Layer 2 concept cooling off is indeed a bit heartbreaking. When will they come up with new stories again? ETH is a bit ruthless this time; retail investors are wiped out again. Why does it feel like the crypto world is always repeating the same rhythm?

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