The post Liquidations Spike as Ethereum Price Dip: Can the ETH Reclaim $4K? appeared on BitcoinEthereumNews.com.

Over the last 24 hours, the cryptocurrency market has been clicked, and from ether, the altcoin king and second-largest by market capitalization, the price has been retracted. Such a move within the market caused liquidations of $1.72 billion for 571,838 traders here, with one particular Ethereum whale biting the dust for $19.69 million after Ethereum price dropped sharply. Actually, Ethereum’s price trajectory has been nothing short of dramatic! That prompted a spate of liquidations as the digital currency plummeted to a low of $3,613.16. Of these, the biggest was the $19.69 million lost by an Ethereum whale. This highlighted the very high risks stemming from leveraged crypto trading in the volatile crypto market. This is not only a story of personal risk but also one of market risk. As their movement brings about such substantial price changes. Analyzing the Impact on Ethereum’s Market Dynamics Ethereum’s market valuation again shrinks, and it is down 3.80%. It fell from $465.47 billion to $445.47 billion, following this dramatic price fall. Unprecedented trading volume for Ethereum came to be seen, as Ethereum saw a trading volume increase from 119.87%. It’s a frenzy, mirroring a market in play when buying and sell-offs come in rapid succession as people scramble to figure out what to do. However, even in all of this, Ethereum is a giant among cryptocurrencies. It is backed with quality infrastructure and wide adoption, both of which would do the market a lot of favors if solidified. The recent price actions have deterred investors. Many are rethinking their positions and strategies on their portfolios in the digital asset. – Advertisement – Ethereum Price Technical Analysis and Future Outlook From a technical point of view, the Ethereum price chart looks overvalued and very uneven. But it is still not at the end. The price…

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Filed under: News - @ December 11, 2024 3:25 am