Ethereum Price Don Fall: $210M ETH Liquidations & ETF Outflows
Ethereum price don drop 5% for 24 hours, e extend the 10.6% drop from this month high wey dey above $4,759 to under $4,255. More than $870 million leveraged long positions don liquidate, with ETH alone dey account for $210.6 million—near double Bitcoin total. US-listed Ethereum ETFs come see serious outflows, including one issuer wey withdraw $272 million as investors dey cash out profit. This Ethereum price drop na part of bigger crypto market wahala: Bitcoin drop 2.3%, Solana and XRP each drop pass 5%. Macro uncertainty before Fed Chair Powell speech dey put weight on risk assets. Technically, ETH dey test im 20-day EMA for $4,134; if e no fit hold, e fit move go 50-day EMA near $3,651. RSI cool down to 58 from overbought levels, show say momentum dey reduce. To continue bullish trend, ETH must katch $4,500 back and clear resist around $4,800.
Bearish
ETH wey worth $210.6 million get liquidation plus ETF money wey dem dey withdraw come release plenty sell pressure, e weaken short-term bull market momentum. For history, similar liquidation waves—like the DeFi summer correction for May 2021—bin trigger quick sales and make adjustments deeper. Technical indicators still show say the rise get small strength: ETH dey test 20-day moving average, RSI don fall from overbought zone, e mean say e fit fall more unless key support levels hold. Fed policy big meeting dey come, macro risk appetite dey reduce, e dey increase market risk-off sentiment. Even though long-term fundamentals still strong, traders fit reduce position short-term and take more cautious stance. Unless ETH bounce back go $4500 and $4800 levels, market outlook dey bearish and fit cause spillover effect for other altcoins.