Ethereum On Track To Snap Its Longest Quarterly Losing Streak On Record

• Ethereum is on track to snap a record three-quarter losing streak after falling since the fourth quarter of 2025.
• Bitmain chairman Tom Lee expects crypto, particularly Ethereum, to see strong FOMO into the year-end.
• Lee expects institutional inflows and a potential CLARITY Act  passage to support a strong fourth quarter for crypto. 

Ethereum (ETH) is set to break its longest losing streak on record, a prediction Bitmine Immersion (BMNR) chairman Tom Lee already made back in August.

The second-largest cryptocurrency fell by nearly 29% in the fourth quarter of 2025, roughly 30% in the first quarter of 2026, and nearly 26% in the second quarter, according to Coinglass data. 

This made it three quarters in a row where the asset ended in the red. The longest streak of quarterly drops has never lasted more than two years. Ethereum has had back-to-back quarterly losses four times before: in 2018, 2019, 2022, and 2024. Each time, the next quarter was positive. It ended the streak.

The current quarter has turned around quickly. Ethereum is up nearly 58% so far this quarter, compared to an average return of 12% and a median return of 10% for the third quarter. However, the gain is not permanent, as the month still has more than two weeks to close out the quarter.

Ethereum’s price was trading at $2,472, down over 2% over the past 24 hours. On Stocktwits, the retail sentiment around ETH remained in the ‘bearish’ zone, accompanied by ‘normal’ chatter levels over the last day.

Tom Lee Sees Strong Q4 Ahead For Crypto

On X, Lee said, “We think the asset with the most FOMO in Sept and into year-end will be crypto, particularly $ETH.” He had said the Federal Reserve meeting in September would be crucial for markets. He said his base case was for the central bank to leave rates unchanged, and that could lead to a strong rally in markets. 

Lee said crypto has been the best-performing macro asset so far in the third quarter, with institutional allocation coming in September and the fourth quarter. The four-year crypto cycle ends next month, bringing back investors who have stopped watching the sector, he said, pointing to Korean investors rotating back into crypto after moving into AI earlier this year. 

Bitcoin and Ethereum would have a great fourth quarter if the CLARITY Act passed this year, Lee added. He characterized the downturn as a shallow crypto winter with heavy devaluation. 

Lee chairs Bitmine Immersion Technologies (BMNR), the largest corporate holder of Ethereum. The company said on September 8 that it held 5,929,198 ETH as of September 7, or 4.9% of the token's 122 million supply. That is up from 4.8% of the supply in late August, when Lee said Ethereum's rally was overdue. 

Ethereum is down over 16% so far this year and over 46% in the last 12 months. 

Read also: Circle Faces Back-To-Back Catalysts As Senate Votes On CLARITY Act, And Fed Weighs Rate Hike

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