According to on-chain analyst Ember, a whale had previously opened an ETH long position worth approximately $187 million using maximum leverage. The 4,890 ETH long position was liquidated at around 5 a.m. today, with a value of approximately $11.74 million and a liquidation price of $2,356—the lowest level ETH touched in the early hours of the day. Market participants are watching fund flows, on-chain activity, and changes in liquidity. A single liquidation event does not provide a definitive indication of subsequent market movements.

$ETH #On-chain