How low will Ethereum get in February?
Short Answer
1. Executive Verdict
- Significant market deleveraging liquidated billions in leveraged long contracts.
- Ethereum's February options expiry shows a $2,000-$2,200 Max Pain price.
- Net ETH inflows to centralized exchanges signal bearish price pressure.
- Concentrated US spot crypto ETFs are reacting to key ETH price events.
- Higher-than-expected CPI data caused a sharp ETH/USD price decline.
Who Wins and Why
| Outcome | Market | Model | Why |
|---|---|---|---|
| Below $1,500.00 | 10.0% | 25.9% | The logit-shift from -2.2513 to -1.0513 reflects the strong bearish confluence of whale distribution and price resistance, which outweighs the long-term bullish sentiment from the Ethereum Foundation's roadmap. |
| Below $1,750.00 | 32.0% | 31.5% | Market higher by 0.5pp |
| Below $2,000.00 | 84.0% | 25.9% | Market higher by 58.1pp |
| Below $1,250.00 | 3.0% | 6.4% | The significant short-term bearish pressure from whale distribution, stalled network growth, and persistent technical weakness heavily outweighs the market's low initial probability, despite the long-term bullish potential of protocol upgrades which creates a bilateral conflict between current momentum and future value. |
| Below $1,000.00 | 3.0% | 1.5% | Market higher by 1.5pp |
Current Context
2. Market Behavior & Price Dynamics
Historical Price (Probability)
3. Significant Price Movements
Notable price changes detected in the chart, along with research into what caused each movement.
📈 February 18, 2026: 9.0pp spike
Price increased from 29.0% to 38.0%
Outcome: Below $1,750.00
📈 February 15, 2026: 19.0pp spike
Price increased from 24.0% to 43.0%
Outcome: Below $1,750.00
📉 February 13, 2026: 26.0pp drop
Price decreased from 54.0% to 28.0%
Outcome: Below $1,750.00
📈 February 12, 2026: 10.0pp spike
Price increased from 44.0% to 54.0%
Outcome: Below $1,750.00
📈 February 10, 2026: 13.0pp spike
Price increased from 29.0% to 42.0%
Outcome: Below $1,750.00
4. Market Data
Contract Snapshot
The provided page content "How low will Ethereum get in February? Odds & Predictions" is a market title and does not contain the detailed contract rules needed to determine the exact triggers for YES/NO resolutions, key dates/deadlines, or special settlement conditions. To summarize these points, the full contract rules or market details from Kalshi would be required.
Available Contracts
Market options and current pricing
| Outcome bucket | Yes (price) | No (price) | Implied probability |
|---|---|---|---|
| Below $2,000.00 | $0.84 | $0.17 | 84% |
| Below $1,750.00 | $0.32 | $0.69 | 32% |
| Below $1,500.00 | $0.10 | $0.91 | 10% |
| Below $1,000.00 | $0.03 | $1.00 | 3% |
| Below $1,250.00 | $0.03 | $1.00 | 3% |
| Below $250.00 | $0.01 | $1.00 | 1% |
| Below $500.00 | $0.01 | $1.00 | 1% |
| Below $750.00 | $0.01 | $1.00 | 1% |
Market Discussion
Discussions and debates regarding Ethereum's potential low in February 2026 reveal a split sentiment [^]. Many analysts and prediction markets indicate a prevailing bearish outlook, forecasting a continued downturn or consolidation around the $1,600 to $1,900 range, citing ongoing capital outflows and weak momentum following a significant drop since January [^]. Conversely, some optimistic experts and market participants believe Ethereum may be nearing its market cycle bottom, pointing to "panic-selling levels" in sentiment and observed institutional accumulation during dips, with expectations of a substantial recovery and potential new highs later in 2026 [^].
5. How Low Will Ethereum's Price Go in February 2026?
| Total Market Liquidations (Feb 9-16) | Over $3.4 billion |
|---|---|
| Ethereum Price Drop (Feb 9-16) | 29.7% |
| Crypto Fear & Greed Index (Feb 18) | 12 out of 100 |
6. What Does Ethereum's February 2026 Options Expiry Indicate?
| ETH Max Pain Price Cluster | $2,000-$2,200 (as of Feb 20, 2026) [^] |
|---|---|
| Overall ETH Put/Call Ratio | 0.69 (as of Feb 20, 2026) [^] |
| Options Expiry Date & Time | February 27, 2026, 08:00 UTC [^] |
7. What Do On-Chain Flows Predict for Ethereum's February 2026 Price?
| Net ETH Inflows (7-Day Avg) | +21,500 ETH per day [^] |
|---|---|
| Net USDT Inflows (7-Day Avg) | +$85 million per day [^] |
| Net USDC Inflows (7-Day Avg) | -$15 million per day [^] |
8. How Did US Crypto ETFs React to Ethereum's $1,900 Support Breach?
| Top Bitcoin ETF AUM | $51.02 billion (iShares Bitcoin Trust, Feb 19, 2026) [^] |
|---|---|
| Critical ETH Price Event | Closed below $1,900 at $1,899.94 on February 5, 2026 [^] |
| Daily Flow Data Status | Not available for February 5, 2026 [^] |
9. How Did CPI Surprise Shift ETH/USD and Nasdaq 100 Correlation?
| ETH/USD 4-Hour Price Change | -6.2% (Post-January 2026 CPI Release) |
|---|---|
| ETH/USD 15-min Volatility | 1.85% (Post-January 2026 CPI Release) |
| ETH/NQ 1-min Correlation | 0.89 (Post-January 2026 CPI Release) |
10. What Could Change the Odds
Key Catalysts
Key Dates & Catalysts
- Expiration: March 08, 2026
- Closes: March 01, 2026
11. Decision-Flipping Events
- Trigger: Several factors could influence Ethereum's price in February.
- Trigger: Bullish sentiment could be fueled by softer US inflation data, with the January 2026 Consumer Price Index (CPI) showing a 2.4% year-over-year increase, slightly below expectations [^] .
- Trigger: This unexpected moderation, reported on February 13, 2026, has previously boosted risk assets and could prompt expectations for further Federal Reserve easing [^] .
- Trigger: Furthermore, a significant rebound in Bitcoin and a reported 'panic-selling' level on the crypto 'Fear and Greed Index' suggest the market might be nearing a bottom, potentially leading to an upward reversal for Ethereum [^] .
13. Historical Resolutions
Historical Resolutions: 9 markets in this series
Outcomes: 4 resolved YES, 5 resolved NO
Recent resolutions:
- KXETHMINMON-ETH-26FEB28-200000: YES (Feb 05, 2026)
- KXETHMINMON-ETH-26JAN31-3000: YES (Jan 20, 2026)
- KXETHMINMON-ETH-26JAN31-2750: YES (Jan 30, 2026)
- KXETHMINMON-ETH-26JAN31-2500: YES (Jan 31, 2026)
- KXETHMINMON-ETH-26JAN31-2250: NO (Feb 01, 2026)
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