The cryptocurrency market is witnessing significant price fluctuations in Ethereum and the activity of investors responding to changes in the market situation.
Price Drop of ETH
The recent drop in the price of Ethereum (ETH) surprised many traders, as ETH reserves and long-term inflow data into ETFs exceeded $21.85 billion. However, ETH faced selling around the $4,000 mark, reflecting a high level of resistance.
Investor Reactions
According to liquidation data from Hyblock, retail investors bore the brunt of liquidation. Over the past five hours, $115.8 million in ETH long positions were liquidated. Nevertheless, retail traders began to buy ETH at the $3,600 level, indicating their activity during the downturn.
Current Trends and Prospects
At the time of writing, ETH is on the verge of reclaiming the control point at $3,775 while Bitcoin struggles to maintain above $116,000. Further market developments are expected to influence trends.
The cryptocurrency market exhibits high volatility, and the responses of investors highlight their readiness to adapt to market changes. It is important to monitor further developments.
