Ethereum is down 0.50% to $2,521.34 in 24h, underperforming a slightly positive Bitcoin, primarily driven by leveraged long positions being liquidated amid persistent institutional selling pressure.
Primary reason: A cascade of long liquidations forced selling, with $183.55 million in ETH longs wiped out recently.
Secondary reasons: Sustained outflows from U.S. spot Ethereum ETFs and broader altcoin weakness as capital rotated.
Near-term market outlook: If ETH holds above $2,450 support, it could retest $2,560–$2,570 resistance; a break below risks a drop toward $2,400. The key trigger is Wednesday's U.S. CPI inflation report.
Primary reason: A cascade of long liquidations forced selling, with $183.55 million in ETH longs wiped out recently.
Secondary reasons: Sustained outflows from U.S. spot Ethereum ETFs and broader altcoin weakness as capital rotated.
Near-term market outlook: If ETH holds above $2,450 support, it could retest $2,560–$2,570 resistance; a break below risks a drop toward $2,400. The key trigger is Wednesday's U.S. CPI inflation report.