Ethereum drops 9% in 8 hours as liquidations wipe out $670M in longs
Key Takeaways
- Ethereum dropped 9% in 8 hours, falling to $2,930 as over $212M in ETH longs were liquidated.
- Total liquidations topped $670M in 24 hours, with longs accounting for $570M and Bitcoin contributing $228M.
Ethereum dropped 9% in the past eight hours, sliding to $2,930 as crypto markets continue to reel from a wave of liquidations.
The pullback comes amid broader weakness across digital assets, with Bitcoin retreating to the mid-$86,000 range.
The selloff intensified as over $670 million in positions were liquidated in the past 24 hours, according to Coinglass data. Longs bore the brunt of the move, accounting for $570 million of total liquidations. Ethereum alone saw $176 million in liquidated longs, while Bitcoin recorded $204 million.
The market has struggled to regain momentum since the October 10 wipeout, with risk appetite remaining low across both majors and altcoins.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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