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The Daily Chart Ethereum dropped nearly 30%, hitting the critical $2K support after a rejection at $2.9K. Market uncertainty, fueled by Trump’s tariff war announcement, added pressure. For now, ETH is expected to consolidate between $2K and $2.5K, with a potential drop to $1.5K if buyers fail to hold support. The 4-Hour Chart ETH attempted a recovery but faced strong selling at key Fibonacci levels, leading to another decline. The $2K level saw a brief bounce due to buying interest, but heavy sell-offs continued. With $980 billion in liquidations in 24 hours, ETH is likely to remain volatile in the short term. Sentiment Analysis Ethereum’s sharp drop triggered a major liquidation event, but strong support at $2K suggests potential stabilization. With leverage reset, the market could recover. If ETH holds $2K, a push toward $2.5K and $3K is possible.

Arbitrum’s price jumped 12.9% on Thursday after Robinhood announced its listing, though ARB is still down more than 80% since its all-time high. Ethereum’s layer-2 solution, Arbitrum ( ARB ), is now available for trading on Robinhood , joining Bitcoin ( BTC ), Ethereum ( ETH ), Solana ( SOL ), as well as other altcoins. In an X post on Wednesday, March 5, the U.S.-based online brokerage platform said users can trade ARB via its crypto-focused arm called Robinhood Crypto. Following the announcement, Arbitrum’s price soared 12.98% to $0.4258. However, even with the rally, the token remains 82% below its peak of $2.26, which it reached in January 2024, according to crypto.news price data. In late January, crypto.news suggested that Arbitrum token may be on the verge of a strong bullish breakout as the volume of tokens on the chain suddenly jumped by 118%, cementing its best week in months. Another positive catalyst is that Arbitrum formed a falling wedge pattern, which is made up of two falling and converging trendlines. These two lines are nearing their confluence levels, signaling a potential rebound that can push the Arbitrum price to $1.2470. Meanwhile, on-chain data from Artemis suggests that traders jumped on the recent news, with daily transactions climbing 25% to 2.8 million over the past week. The top three most active addresses appear to be linked to Tether’s and Circle’s smart contracts, hinting at increased stablecoin conversions, which might signal traders’ willingness to take advantage of the price movement. Founded in 2016 by Steven Goldfeder, Harry Kalodner, and Joshua Goldfeder, Arbitrum is a layer-2 blockchain designed to help Ethereum handle more transactions at lower costs. It addresses Ethereum’s high fees and congestion by offloading some processing and data storage from the main Ethereum network. Since Ethereum’s smart contract execution requires nodes to process every step, transaction costs can quickly add up. By handling some of this work off-chain, Arbitrum aims to reduce congestion, offering lower fees, and improving overall efficiency.

Ethereum price surged 6% in the past 24 hours, reclaiming the $2,300 level despite weakening decentralized finance metrics. According to data from Defi Llama, in February, Ethereum’s ( ETH ) total value locked fell to $50 billion from a peak of $71 billion in January. Additionally, decentralized exchange volumes have been declining as capital flows into alternate ecosystems such as layer 2s and Solana ( SOL ). DEX volume fell from $92 billion in December to $82 billion in February, a 11% decline. Ethereum network fees, on the other hand, have decreased from $142 million in January to barely $46 million in February, indicating a decline in demand. The upcoming Pectra upgrade , which is expected to enhance network functionality and fee efficiency, might be a short-term catalyst. However, it is still unclear if these upgrades will be enough to stop the decline in DeFi activity. Furthermore, technical issues or delays could slow down the momentum and maintain ETH within its current range. On the technical side, Ethereum is still trading below the $2,846 critical resistance. A squeeze in the Bollinger Bands suggests a possible breakout. The relative strength index at 41.40 indicates modest momentum, although bullish strength might be confirmed by a move above 50. Despite the price uptick, low trading volume suggests hesitation among buyers. ETH needs a strong push past resistance to sustain gains, or it risks another pullback. A decisive break above $2,846 may open the path to $2,946, while failure to hold current levels could lead to a retest of $2,200 support. Meanwhile, sentiment remains mixed ahead of the White House Crypto Summit on Mar. 7. Recently, U.S. President Donald Trump proposed the formation of a national crypto strategic reserve , with Ethereum being among the cryptocurrencies. Although some see this as a sign of a possible reversal, analysts caution that if enough regulatory clarification is not reached, the summit may become a “sell-the-news” event and lead to further downturns.

The U.S. Senate has voted decisively to repeal the Internal Revenue Service’s (IRS) DeFi broker rule, in what amounts to a significant shift in digital asset regulation. The resolution, championed by Senator Ted Cruz, passed with a strong 70-27 majority, showing robust bipartisan support. With this victory in the Senate, the resolution now moves to the House of Representatives for consideration. If passed, it will prevent the IRS from implementing similar regulations in the future. This action marks a crucial step in protecting financial innovation and digital privacy in the U.S. The IRS rule aimed to expand tax reporting requirements for cryptocurrency transactions, including those involving decentralized finance (DeFi) platforms. However, opponents argued the rule was overly burdensome and technologically unfeasible. Critics, including digital asset advocacy groups, asserted that the rule would force software developers to act as brokers and disclose user information, even when they have no control over transactions. Such measures could drive financial innovation overseas, limiting growth in the U.S. digital asset sector. Senator Cruz stated that the repeal of this rule is a major victory for American innovation. The move protects decentralized systems from government overreach and ensures that developers are not unfairly subjected to regulatory burdens. The strong bipartisan backing for the resolution reflects a growing agreement that digital assets need balanced, thoughtful regulation rather than stifling restrictions. The repeal of the IRS rule is not an isolated event but part of a larger push against heavy-handed cryptocurrency regulations. The Senate also advanced a resolution to overturn a Consumer Financial Protection Bureau (CFPB) rule affecting fintech apps. The CFPB rule extends obligations under the Electronic Funds Transfer Act to non-custodial crypto wallets. Industry experts argue that compliance is nearly impossible because non-custodial wallets do not hold user funds. Senator Pete Ricketts spearheaded the effort to roll back the CFPB rule, highlighting the importance of protecting digital financial services from excessive regulation. Related: IRS Delays Crypto Tax Rules as BlackRock Joins Stablecoin Race The final vote on this measure is expected soon, potentially marking another victory for the digital asset industry. The House of Representatives must now decide the fate of the IRS rule repeal. Related: IRS’s DeFi Broker Rule Faces Backlash, Ripple CTO Highlights Risks The House Financial Services Committee has already cleared a matching resolution, which suggests strong support. If the House approves the measure, it will move to the president for final approval. With signals from the White House suggesting support for the repeal, the resolution may soon become law. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

The Ethereum Foundation announced in its official blog that the next Devconnect will be held in Buenos Aires, Argentina from November 17 to 22, 2025. One of our main goals is to push real usage of Ethereum.