A day after the successful launch of the spot Ethereum ETF, the Ethereum price has come under strong selling pressure cracking over 8% and tanking all the way to $3,150 levels. This has resulted in strong liquidation of the long positions of Ethereum in the last 24 hours.
Ethereum Liquidations Skyrocket
As per the data from Coinglass, the total Ethereum liquidations have surged past that of Bitcoin in the last 24 hours. The data shows that Ethereum liquidations currently stand at $97.8 million while Bitcoin liquidations are comparatively at $80.9 million.
Of the total ETH liquidations, $94.4 million have been the long liquidations with only 43.3 million in short liquidations. Interestingly, most of these liquidations have come in the past 4 hours with the Ethereum price facing huge selling pressure.
It seems that the approval of the spot Ethereum ETF has actually turned out to be a sell-the-new event similar to what we saw in the case of Bitcoin earlier this year in January. With the E
We współpracy z: https://coingape.com/ethereum-price-falling-today/
