ETH Falls Below Key Price Level as BTC Drops Below $97,000
ETH’s drop below $3,400 is a notable event in the digital assets market. The 7.1% drop within a single day highlights increased volatility and investor alert. Ethereum’s price action has drawn engagement, especially given its part in decentralized finance and blockchain ecosystems.
Bitcoin’s fall below $97,000 adds to the broader concerns about market stability. This drop represents a substantial change in its valuation, with implications for institutional and retail investors. The sustained price pressure reflects heightened activity in derivatives markets and broader market sentiment.
According to the CoinMarket Cap comparative chart indicating Bitcoin and Ethereum market movements, BTC dropped to $97,036.75 at the time of writing, marking a 3.97% decrease. ETH fell to $3,389.17, recording a 7.37% loss during iod.
Liquidations Reach Over $1 Billion
According to Coinglass data at the time of writing, the liquidations in the past 24 hours amounted to $837.12 million. Ethereum accounted for $1.85 million in liquidations, while Bitcoin saw $981.25K
The largest single liquidation occurred on Binance with an ETH/USDT value of $15.80 million. Long orders led the liquidations, totaling $684.31 million, compared to $152.80 million for short orders. Over 239,053 traders faced liquidations within this period. Liquidations were prominent for Ethereum, Bitcoin, and other assets like SOL ($339.77K).
Total liquidations in the last 24 hours exceeded $1.03 billion, indicating a period of extreme market activity. Long positions accounted for the most, with $861 million liquidated during this period.
