$ETH just slipped under $1,800 for the first time in about four months, and it did it without much of a fight. On Binance it's around $1,746, down roughly 9% on the day and about 23% from where it traded two weeks ago.
The wider picture is uglier than the Ether chart alone. Total crypto market cap is near $2.17T, down about 9% in 24 hours, and Bull Theory counts roughly $500B erased in ten days. Somewhere between $1.5B and $1.8B of leveraged positions got liquidated along the way, mostly longs.
I've seen this shape before. In 2018 and again in 2022, ETH didn't bottom on the first scary headline. It bottomed after weeks of people saying "it can't go lower" and then quietly giving up. A round-number break feels dramatic, but price rarely cares about round numbers. Positioning does.
What I'm watching now:
• whether $1,730 (today's low) holds on a daily close
• funding cooling off instead of staying positive
• ETH/BTC, because if Ether keeps bleeding faster than BTC, the risk appetite just isn't there yet
None of that says a bottom is in. It just tells me whether sellers are tired or still arriving.
Where do you think the real washout happens, or are we already in it? 🤔
#Ethereum #Crypto #Liquidations #MarketUpdate #BinanceSquare
Not financial advice. DYOR.
The wider picture is uglier than the Ether chart alone. Total crypto market cap is near $2.17T, down about 9% in 24 hours, and Bull Theory counts roughly $500B erased in ten days. Somewhere between $1.5B and $1.8B of leveraged positions got liquidated along the way, mostly longs.
I've seen this shape before. In 2018 and again in 2022, ETH didn't bottom on the first scary headline. It bottomed after weeks of people saying "it can't go lower" and then quietly giving up. A round-number break feels dramatic, but price rarely cares about round numbers. Positioning does.
What I'm watching now:
• whether $1,730 (today's low) holds on a daily close
• funding cooling off instead of staying positive
• ETH/BTC, because if Ether keeps bleeding faster than BTC, the risk appetite just isn't there yet
None of that says a bottom is in. It just tells me whether sellers are tired or still arriving.
Where do you think the real washout happens, or are we already in it? 🤔
#Ethereum #Crypto #Liquidations #MarketUpdate #BinanceSquare
Not financial advice. DYOR.
