The crypto world is seeing red, and Ethereum (ETH) is feeling the heat! In a market downturn, ETH has taken a nosedive, crashing below the $3,000 mark for the first time since November. Talk about a wild ride!
This plummet has sent shockwaves through the trading community, with over-leveraged bulls feeling the squeeze—liquidations for ETH-related positions have soared to a staggering $200 million. Ouch!
Remember when ETH soared above $3,000 right after the US elections in November? It rode that wave with confidence, peaking at over $4,100 by mid-December. But a year-end crash brought it back to reality, dipping to $3,100 with a solid defense at the $3,000 line.
The bulls made a comeback at the start of 2025, pushing ETH to a yearly high of $3,750 on January 7. But just as things were looking up, the tables turned, and ETH, along with its crypto pals, started slipping downhill.
Ethereum found itself clinging to $3,300 for a few days, but the bears struck again today, dragging it below $3,000 for the first time in months.
From its January 7 peak, ETH has dropped a jaw-dropping 20%—that’s $750 in your pocket if you’re counting in dollars. And today’s tumble has been particularly harsh on traders betting on long positions, with liquidations reaching a hefty $185 million.
To add a twist to the tale, ETH's liquidation party even outdid BTC’s, which saw its price dip from $96,000 to just under $90,000 earlier today. Hang on tight, folks—this crypto coaster isn’t slowing down anytime soon!
