Ethereum just closed three consecutive red quarters for the first time, what happens next

Ethereum is in an unprecedented freefall, posting three consecutive red quarters for the first time in history. Losing 62% of its value since late 2025 isn't just a market dip; it’s a structural failure, proven by its multi-year low against Bitcoin. With the Glamsterdam upgrade delayed until 2026, the historical models are officially broken. We are entering territory that has never been mapped, and a rebound is not guaranteed. Is Ethereum’s reign over, or will Q3 be another disaster?
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