Ethereum’s price has fallen over 15% below the crucial $3,000 range, indicating a bearish trend.
A major whale dumped 26,600 ETH worth over $82.5 million.
Amid recent market turbulence, Ethereum has struggled to regain its footing after a significant 15% drop below key support levels. The crypto’s price plummeted below the crucial $3,000 mark due to a broader market downturn triggered by BTC. Bitcoin payouts from the Mt. Gox bankruptcy, flooding the market with additional supply and exerting downward pressure on prices across various altcoins.
A whale dumped 26,600 ETH, which was worth approximately $82.5 million at $3,102. This move, aimed at repaying debt on Aave, initially led to a sharp 3% decline in ETH value. However, the same whale strategically re-entered the market at a lower price point, borrowing significant funds to capitalize on the dip.
Over the past 24 hours alone, $639.27 million in liquidations underscored the heightened volatility and risk exposure wi
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