$ETH just printed its lowest level since Aug 20, and it's bleeding harder than Bitcoin.
ETH tagged 2,282 on Binance spot today and trades near 2,318 (-3.8% 24h, ~$514M volume) at 02:16 KST. $BTC is down ~2% over the same window, and ETH/BTC slid to 0.0289.
What happened:
• Risk-off on US-Iran headlines pushed BTC under $80K
• CoinGlass data via BeInCrypto: ~$837M liquidated in 24h, $181.5M of it on ETH, with longs over 93% of that
• Biggest single wipeout: an $11.85M ETHUSDT long on Binance
Why ETH is weaker: leverage was crowded on the long side, and ETH sits ~9% under its 50-day average (~2,547) while BTC is only just testing $80K.
Levels from real candles:
• Support: 2,282 (today's low), then 2,221 (Aug 20 low)
• Resistance: 2,351-2,360 (Oct 22-23 lows), then 2,413-2,418 (24h high)
Bull case: longs are flushed, and reclaiming 2,360 on a 4h close would turn this into a liquidation wick.
Bear case: losing 2,282 opens 2,221, and the Fed (Oct 27-28) plus PCE (Oct 29) arrive with Brent oil above $116.
Is this a flush to buy, or the start of a deeper ETH/BTC unwind?
Source: https://finance.yahoo.com/markets/crypto/articles/bitcoin-loses-80-000-200-154722552.html
Not financial advice. DYOR.
#WriteToEarn
ETH tagged 2,282 on Binance spot today and trades near 2,318 (-3.8% 24h, ~$514M volume) at 02:16 KST. $BTC is down ~2% over the same window, and ETH/BTC slid to 0.0289.
What happened:
• Risk-off on US-Iran headlines pushed BTC under $80K
• CoinGlass data via BeInCrypto: ~$837M liquidated in 24h, $181.5M of it on ETH, with longs over 93% of that
• Biggest single wipeout: an $11.85M ETHUSDT long on Binance
Why ETH is weaker: leverage was crowded on the long side, and ETH sits ~9% under its 50-day average (~2,547) while BTC is only just testing $80K.
Levels from real candles:
• Support: 2,282 (today's low), then 2,221 (Aug 20 low)
• Resistance: 2,351-2,360 (Oct 22-23 lows), then 2,413-2,418 (24h high)
Bull case: longs are flushed, and reclaiming 2,360 on a 4h close would turn this into a liquidation wick.
Bear case: losing 2,282 opens 2,221, and the Fed (Oct 27-28) plus PCE (Oct 29) arrive with Brent oil above $116.
Is this a flush to buy, or the start of a deeper ETH/BTC unwind?
Source: https://finance.yahoo.com/markets/crypto/articles/bitcoin-loses-80-000-200-154722552.html
Not financial advice. DYOR.
#WriteToEarn