12 hour ago
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BEARISH 📉 : Ethereum price falls below $2,000 amid market decline
Ethereum Decline Continues
- Ethereum (ETH) dropped over 9% in a day, reaching new lows.
- ETH hit an eight-month low of $1,934, falling below the crucial $2,000 level.
- The price has decreased by over 60% from its August ATH of $4,956.
- Analysts highlight the importance of reclaiming the $2,000-$2,100 range to avoid further declines.
Market Analysis
- Trader Daan Crypto Trades emphasizes watching key horizontal levels on ETH's chart for potential movements.
- Altcoin Sherpa warns that losing the $2,000 barrier could lead to a drop to $1,400-$1,500.
Investor Impact
- Ethereum liquidations reached $326.6 million in 24 hours, with $245.5 million from long positions.
- BitMine's unrealized losses grew to over $8 billion due to ETH's decline.
- Spot ETH ETFs experienced negative performance, with outflows totaling $68 million in three days.
