Ethereum explodes over 600 million positions in 24 hours: short-term pressure, long-term potential still exists
Recently, the cryptocurrency market has been volatile, and the performance of Ethereum (ETH) over the past 24 hours has received widespread attention. Data shows that the total amount of liquidated positions on the internet reached 625 million US dollars, with ETH experiencing multiple liquidation of 511 million US dollars, mainly due to sudden changes in market sentiment and investors’ doubts about the trend, triggering a large number of stop losses. During this period, ETH prices fell by 2.95% and are now trading at $4172.38, highlighting market fragility.
The recent liquidation is due to three factors: firstly, macroeconomic factors such as the Federal Reserve’s monetary policy and global economic uncertainty affecting market sentiment; Secondly, ETH experienced a sell-off at key support levels, forcing long positions to close out; Thirdly, the high market leverage ratio exacerbates price fluctuations.
Looking ahead, short-term ETH may continue to be under pressure due to sluggish market sentiment; However, in the long run, the advancement of Ethereum 2.0 and the continuous development of DeFi support its fundamentals and still have growth potential.
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