Ethereum (ETH) has experienced a dramatic price decline, falling over 15% in a week, plummeting below $2,500. This downturn is attributed to reports of a significant security breach at Bybit, with hackers allegedly stealing $1.5 billion worth of crypto, further pressuring Ethereum's value.
Despite this, the Wyckoff Accumulation Pattern indicates a potential price rebound, with experts suggesting the possibility of Ethereum reaching $8,000 in the future. The pattern, known for highlighting market accumulation phases, provides hope for investors amidst the current downtrend.