Ethereum staking has reached an all-time high with 36.8 million ETH locked and nearly 1 million validators in operation, representing over 30% of the total supply. Despite this strong staking growth, ETH's price has been declining due to broader macroeconomic concerns and market risk aversion, dropping over 60% from its all-time high in August last year. Analysts suggest ETH's price may continue to follow Bitcoin's downward trajectory, with potential dips linked to market-wide corrections.