Ethereum's price plunged this week, causing $165M in liquidations. We look into the key causes and market implications.
Whale Activity and Exits
Blockchain data showed large holders moved over 200,000 ETH in the past two weeks, coinciding with a brief price surge earlier in the week.
Record Liquidations
On March 28, Ethereum liquidations hit the highest monthly value. CryptoQuant data revealed $165M in long ETH positions were liquidated.
$165 million in long #Ethereum positions have just been liquidated today.Ali
Criticism and Investor Doubts
Venture capitalists have expressed skepticism over Ethereum's investment appeal, focusing on its layer-2 ecosystem as detracting from the base layer's value.
ETH was buried in an avalanche of its own tokens. Died by its own hand.Nic Carter
Ethereum faces significant downturn pressure. A rebound is possible, but bulls need to reclaim key technical levels.
