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The crypto world is in turmoil today as a massive sell-off shakes the market, sending billions flying out the window. Ethereum, the crypto superstar, is feeling the heat more than any other. It's like the crypto scene is having a meltdown, with the market cap nosediving to its lowest since early November, losing a jaw-dropping $240 billion in just a day.

The grand total of the crypto market has shriveled by 6% to $2.6 trillion, wiping out all the gains since the US elections. Ethereum, the star of the show, took a serious tumble, plunging a staggering 16% in just 12 hours. It fell from its cozy spot at $2,140 to a shaky perch below $1,800. As of now, ETH is fighting to stay afloat, trading at around $1,860.

The last time Ethereum was this low was back in October 2023, as it clawed its way out of a two-year bear market. There's a glimmer of hope at these levels, but it needs to hold strong to avoid a dive back into bear market territory, with analysts eyeing a double-top chart pattern. If it slips, ETH could be heading down to a chilling $1,200.

Ethereum is currently down a gut-wrenching 62% from its all-time high in 2021. The ETH/BTC ratio, which tells us how ETH is doing in terms of Satoshis, is at its lowest since December 2020, hovering at 0.023.

Even Dogecoin, the meme king, took a heavier beating than Ethereum, crashing by 11% today. The big question is, who's selling ETH at $2,000? Whales, that's who. They're looking to dodge the liquidation bullet, according to expert whispers.

Crypto Twitter is buzzing with chatter, as traders and investors nurse their wounds, and the Ethereum drama reaches new heights. The angst is not just about prices; it's also about tech troubles, with Pectra testing issues and a mysterious attacker sending ghostly zero-token transfers, causing empty blocks. But fear not, Ethereum developer Marius van der Wijden says the problem is now fixed, with a stealthy update to keep the network running smoothly. It's all happening in the wild world of crypto!

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