Crypto market liquidations crossed $1 billion for the second time this week, with Ethereum (ETH) once again leading the downturn. The sell-off pushed ETH below $3,850, triggering a sharp wipeout of leveraged long positions. Despite the 20% ETH price drop from its peak, analysts point to potential buy-the-dip opportunities.
A massive crypto selloff has once again triggered strong liquidations, shooting past $1.1 billion for the second time this week. The cryptocurrency market faced heavy turbulence over the past 24 hours, with 233,337 traders liquidated and total liquidations reaching $1.06 billion, ahead of the massive $23 billion crypto options expiry.
The largest single liquidation occurred on Hyperliquid, where an ETH-USD order worth $29.12 million was closed, as per data from Coinglass. Ethereum’s contribution to the overall crypto market liquidations, in the last 24 hours, is a massive $409 million. Bitcoin (BTC) stands second at the moment with $272 million in long liquidations.
On the other hand, the outflows from spot Ether ETFs have skyrocketed to more than $250 million, with Fidelity’s FETH leading the most outflows at $158 million. This shows that institutional sentiment around ETH has been waning quickly. Interestingly, the launch of the first Ether staking ETF, hasn’t much helped in changing the market sentiment.
Crypto analyst Ted Pillows outlined critical support and resistance levels for Ethereum (ETH) as the market faces heightened volatility. According to Pillows, ETH is holding support near $3,822, its recent low. A breakdown below this level could push the price further toward $3,700–$3,750. With the ETH price crashing under $4,000 support, Peter Schiff issued a warning to investors. However, others see this as a buy-the-dip opportunity.
On the upside, Pillows noted that the resistance lies between $3,960 and $4,000. The analyst noted that ETH is now “entering the buy zone”.
Crypto analyst Michael van de Poppe highlighted Ethereum’s (ETH) technical setup. He pointed out a significant gap with the 20-day exponential moving average (EMA) and the weekly 20-EMA closing in. Van de Poppe said these signals suggest the market may be nearing the bottom of its current correction. He added that the conditions present a potential buying opportunity for investors.
STRC, Strategy's perpetual preferred stock, returned to its $100 par value during Friday's trading session.…
Ethereum whale Garrett Jinn has once again dumped his ETH holdings, sparking discussions among market…
BlackRock, the world's largest asset manager, has filed with the U.S. Securities and Exchange Commission…
'Big Short' Michael Burry, who rightly predicted the housing market crash, has issued another warning…
Ripple CEO Brad Garlinghouse has explained why XRP will be fine even without the CLARITY…
In the next week, U.S. lawmakers will move on to a big cryptocurrency market structure…