ETH price was on track to conclude the first 7 days of 2024 on a bullish trend. Especially after price pulled back since mid-December in a natural post-rally retracement.
ETH experienced a flash crash during which it lost roughly 8.3% on Tuesday’s trading session. Closer investigation into the crash reveals that it may have been a liquidity shakedown.
However, the crash on Tuesday undid the previously achieved gains. The large pullback had all the makings of a liquidity shakedown.
For example, whale activity demonstrated outflows since late December and well into the first week of January despite the price uptick.
How the ETH liquidation Set-Up Played Out
Prior to the rally, ETH price action experienced some consolidation in the last week of December underpinning directional uncertainty.
However, the subsequent uptick offered some confidence about the cryptocurrency’s direction. As such, appetite for leverage created an opportunity for long liquidations.
ETH liquid
We współpracy z: https://www.thecoinrepublic.com/2025/01/09/eth-goes-through-leverage-shakedown-but-accumulation-may-intensify/
