The post Ethereum Stumbles 9% – Is This a Dip or Deeper Trouble? appeared on BitcoinEthereumNews.com.

Ethereum has fallen over 9%, slipping into the $2.1K zone.   The market experienced a surge in liquidations, with $195.40 million worth of ETH wiped out. The crypto market cap has shed 5.31% to $2.67 trillion, weighed down by increased selling pressure. Bitcoin inches closer to $79.8K, while the largest altcoin, Ethereum (ETH), extends its decline, consolidating losses near the crucial $2K support level. ETH is forming a sturdy bearish trend line, and it could start a recovery wave only if it moves above $2,200. The altcoin has attempted to maintain the upside correction but experienced a steep decline due to a broader market downturn.  Following a 9.81% decline, ETH has been trending downwards. The price of the altcoin was unable to cross the $2,424 resistance level. Ethereum fell to $2,128 within the past 24 hours, with an initial high of $2,378 before the pressure from bears dominated. ETH price chart (Source: CMC) At press time, Ethereum traded at $2,117 with the daily trading volume staying at $28.46 billion. Notably, the market observed a liquidation of $195.40 million worth of Ethereum during this interval.  Notably, the on-chain data reports that the Bybit hacker has already laundered over 50% of the stolen 499K ETH within a week, using THORChain to swap for BTC. In the past 5.5 days, they’ve moved 266,309 ETH worth $614 million. With 233,086 ETH still left, if this pace continues, the hacker could fully launder the remaining funds in about five more days. Will Ethereum See Continued Selling Pressure? The ETH/USDT trading pair has recently formed a death cross, signalling the dominance of the bearish momentum. If the current downside correction continues, ETH could test the support at $2K. Failing to hold here could open the door for a drop to $1,824 or even lower.  The altcoin could…

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Filed under: News - @ February 28, 2025 11:25 am