Ethereum has officially broken below key support levels, and market sentiment is rapidly deteriorating as major assets across the crypto landscape continue to slide. Analysts are increasingly calling for the arrival of a new bear market, noting that both Bitcoin and the leading altcoins have lost critical technical zones that previously held the broader structure together. ETH, now trading at multi-month lows, is feeling the full weight of cascading liquidations, strong sell-side volume, and evaporating investor confidence.

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Adding to the growing uncertainty, Lookonchain reports a striking development: in just 10 days, more than $61 million in profit has disappeared for a well-known market participant often referred to as the Anti-CZ Whale.

This trader previously gained attention for aggressively opening shorts immediately after CZ purchased ASTER — a move that paid off handsomely until the recent violent downturn reversed his fortunes.

The Anti-CZ Whale’s Unrealized Profit Collapse Adds Pressure

According to Lookonchain, the trader known as the Anti-CZ Whale has taken a massive hit during the latest market downturn — and Ethereum sits at the center of the damage. Just 10 days ago, this whale had accumulated nearly $100 million in total profit on Hyperliquid, largely fueled by aggressive positions built during periods of high volatility.

However, as the crypto market sharply corrected, his oversized ETH and XRP longs turned against him. The result has been a brutal drawdown: his total profit has now fallen to just $38.4 million, wiping out more than 60% of gains in less than two weeks.

This dramatic reversal reflects more than one trader’s misfortune — it signals the extent of the pressure weighing on Ethereum. As ETH continues to decline and investor sentiment deteriorates, even the most seasoned actors are struggling to navigate the volatility. The whale’s rapid profit erosion highlights how quickly bullish conviction can shift when key support levels fail.

For Ethereum, holding the current zone is crucial. Price action has already inflicted significant pain across longs, short-term holders, and leveraged players. If ETH loses this support decisively, the next wave of forced selling could deepen losses and accelerate the broader market capitulation.

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ETH Price Analysis: Testing a Major Weekly Support Zone

Ethereum has entered a critical phase on the weekly timeframe, with price pulling back sharply toward the $2,680 region — a level that now acts as the last meaningful support before a deeper market breakdown. The chart shows a strong rejection from the $4,500 zone earlier this quarter, followed by a sustained series of lower highs and lower lows, confirming a medium-term downtrend.

The 50-week moving average has been lost decisively, and ETH is now sitting directly on top of the 100-week MA, a level that has historically acted as a key pivot during major market corrections.

Volume has expanded during the recent drop, highlighting an environment driven by fear and forced selling rather than controlled profit-taking. This aligns with broader market conditions, where liquidity is thin and volatility remains elevated across majors. A clean break below $2,650 would open the door for a retest of the $2,300–$2,400 zone, which served as strong accumulation during previous cycles.

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However, the weekly chart also shows that ETH is entering a historically oversold area, similar to mid-2022 and late-2023, where reversals eventually formed after weeks of compression. For now, Ethereum must hold above this weekly support to avoid a deeper retrace and preserve the structure needed for a potential recovery.

Featured image from ChatGPT, chart from TradingView.com

Ethereum has just experienced one of the most chaotic trading days in its history, with price action resembling a rollercoaster. ETH plunged over 30% in less than 24 hours as fears of a U.S. trade war triggered a massive market selloff. However, just as quickly as panic set in, the market rebounded following President Trump’s announcement of negotiations with Canada and Mexico to lift tariffs. This sharp turnaround injected optimism back into the market, but uncertainty remains high.

The sudden drop wiped out millions in leveraged positions, creating one of the largest liquidation events in Ethereum’s history. Data from Glassnode reveals that yesterday, $76.4 million in ETH long liquidations hit the market, with $55.8 million being wiped out in a single hour—marking the second-largest liquidation spike in a year, just behind the $56 million event on December 9. This intense price action highlights the unprecedented volatility in Ethereum and the broader crypto market.

Now, the focus shifts to Ethereum’s ability to sustain its recovery and reclaim key resistance levels. With uncertainty still looming, the next few days will be critical in determining whether ETH can regain its bullish momentum or if further downside is on the horizon.

Ethereum Open Interest Drops Significantly

Ethereum has experienced one of the most volatile trading sessions in its history, dropping over 30% in less than 24 hours amid U.S. trade war fears, only to recover rapidly following President Trump’s announcement of negotiations with Canada and Mexico. This extreme price action has shaken investor confidence, but analysts suggest ETH is now stabilizing and preparing for a push higher.

Key data from Glassnode reveals the extent of the liquidation event that fueled this historic drop. Yesterday, $76.4 million in ETH long liquidations hit the market, with $55.8 million wiped out in a single hour—the second-largest spike in a year, just behind the $56 million liquidation recorded on December 9. The rapid price decline triggered a significant unwinding of futures open interest. ETH futures OI fell from $20.5 billion at the start of February to $15.9 billion today, wiping out $4.6 billion in leveraged positions.

Despite this sharp decline, Ethereum futures OI remains ~22% above its yearly trendline of $13 billion, suggesting that leverage remains elevated. Ethereum’s price has been heavily influenced by leveraged trading, as speculation and aggressive long positions fueled rapid swings. As the market recalibrates, a shift towards spot-driven price action could pave the way for healthier and more sustainable growth.

The coming weeks will be crucial in determining whether Ethereum can recover its bullish momentum. If ETH consolidates above key support levels and open interest stabilizes, the market could be setting up for another leg higher. However, if leverage remains high and speculative trading continues to dominate price action, further volatility and corrections may follow.

ETH Struggles Below Key Level Amid Market Uncertainty

Ethereum (ETH) is trading at $2,810 after a highly volatile start to the week. Despite a sharp recovery from its recent lows, bulls are still facing serious challenges as ETH trades below the crucial $3,000 mark, a level that also aligns with the 200-day moving average. This key resistance has historically acted as a major pivot point for Ethereum’s price action, making it a critical level to reclaim for bullish momentum to resume.

If bulls want to establish a new uptrend, ETH needs to break above the $3,000 mark with strength and hold it as support. A successful reclaim of this level could set the stage for a sustained rally toward $3,200 and beyond. However, failure to do so leaves Ethereum vulnerable to further downside risk.

Losing the $2,800 level could trigger additional selling pressure, potentially leading ETH to revisit lower demand levels around $2,650–$2,700. With market sentiment still uncertain and leveraged positions unwinding, traders are closely watching price action for confirmation of the next major move. Whether Ethereum can regain its footing or faces further declines will depend on its ability to reclaim key resistance levels in the coming days.

Featured image from Dall-E, chart from TradingView

Traders have had a torrid start to the week, as over $500 million has been liquidated from the crypto market in the last 24 hours. This has been due to the Bitcoin price, which has continued to fluctuate heavily in recent times. 

$500 Million Liquidated As Bitcoin Price Fluctuates

Coinglass data shows that over $500 million was liquidated from the crypto market in the last 24 hours as the Bitcoin price fluctuates. Long traders suffered the most loss, with over $366 million in long positions liquidated. Meanwhile, over $129 million in short positions were liquidated in the last 24 hours. 

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This came as the Bitcoin price dropped significantly from around $98,000 to as low as $95,500 on Sunday. Bitcoin has since recovered and is back again over $98,000. This heavy BTC price fluctuation has been the case since the flagship crypto came close to hitting the $100,000 milestone on November 23. 

The Bitcoin price has since witnessed major pullbacks followed by a sharp rebound, leading to mass liquidations as traders struggle to determine the future trajectory of the flagship crypto. These pullbacks have come as investors look to secure profits, seeing as the flagship crypto is approaching this psychological $100,000 price level. 

However, some whales remain undeterred as they recently bought $3.96 billion BTC in 96 hours. Notably, Bitcoin miner Marathon Digital bought 5,771 BTC ($572 million) at an average price of 95,554 per BTC. 

Although this Bitcoin price range might be the local top, the flagship crypto is still expected to go higher, which explains why these whales are still actively accumulating more BTC. Asset manager VanEck recently stated that $100,000 is only the beginning and predicted that Bitcoin could still reach as high as $180,000. 

Today Could Be The Day

Crypto analyst Ali Martinez recently predicted that today could be the day the Bitcoin price finally reaches the much-anticipated $100,000 milestone. This came as he revealed that the SuperTrend indicator had flipped bullish on the Bitcoin hourly chart as prices broke through the resistance trendline and the Relative Strength Index (RSI). 

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In another X post, Martinez suggested that $100,000 won’t be the cycle top for the Bitcoin price in this bull run. He stated that long-term Bitcoin holders are showing signs of growing greed. The analyst claimed that historically, this suggests that it could take 8-11 months for Bitcoin to hit a market top. 

If this historic trend continues, the Bitcoin price could peak between June and September 2025. Crypto analysts like Rekt Capital have also predicted that this period could mark the peak for Bitcoin in this bull run.

At the time of writing, the Bitcoin price is trading at around $98,300, up in the last 24 hours, according to data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

In a dramatic turn of events, the Bitcoin price has breached the $64,000 threshold again after a 7.7% increase from a low of $59,400 in four days. This sudden price jump has sent shockwaves through the crypto market, with data from Coinglass revealing a significant wave of liquidations following the unexpected rally. Short sellers, who were anticipating a decline, found themselves in a tough spot as Bitcoin defied their expectations.

Notably, liquidation data from Coinglass shows that over $182 million worth of positions have been liquidated across various exchanges in the past 24 hours, with a majority being short positions. 

Bitcoin Price Breaks Above $64,000 Again

Bitcoin rose above $64,000 in the early hours of Monday, October 14, after breaking above a tight range over the weekend and gaining 2.53% in the past 24 hours. Bitcoin reached as high as $64,500 in the past few hours, which is its highest point so far in October. As such, the Bitcoin price has now crossed above its open for the month, with the October monthly return finally turning green for the first time.  

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The price action, however, wasn’t as positive for everyone. According to the data shown in the picture below, the sudden rise has been costly for many traders holding short positions. Bears who bet on a continued decline were hit hard as Bitcoin’s continued rally triggered a wave of liquidations. 

Of the $182 million worth of liquidations recorded across various exchanges, a staggering $115.76 million came from short positions, while $66.28 million were from long positions.

Binance has led the crypto exchange market in liquidations over the past 24 hours, accounting for 42.48% of the total liquidations. On Binance alone, approximately $77.33 million worth of positions were wiped out, with 54.23% being short positions. OKX follows closely, with $58.71 million in liquidations, where an even larger percentage of 62.84% were short positions.

HTX, Bybit, and CoinEx also saw significant liquidations, though on a smaller scale. HTX recorded $27.35 million in liquidations, a staggering 87.81% of which were short positions. Bybit came next with $12.62 million in liquidations and a short rate of 65.92%, while CoinEx rounded out the list with $3.50 million liquidated, 81.34% of which was from shorts.

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More Liquidations Ahead?

Bitcoin’s recent uptick brings back the possibility of a declining Uptober sentiment. This interesting rally could set the stage for a surge in the second half of October, similar to what was witnessed in September. 

If this rally were to continue for the rest of the month, we could see more short positions liquidated in the next few hours. Bears, who have been betting against Bitcoin’s rise, may rush to close their positions to minimize losses. The decrease in selling pressure from short sellers exiting the market could further fuel Bitcoin’s ascent.

Featured image created with Dall.E, chart from Tradingview.com

The recent market plunge has sent shockwaves through the crypto industry, resulting in hundreds of millions in dollars being wiped out in a matter of hours.

The price of Bitcoin has retreated violently to a weekly low of $67,500 after a few days of showing remarkable advances and setting new all-time highs.

The altcoins have experienced a significant decline as well, resulting in nearly 200,000 traders making liquidations during the last 24 hours.

The weekend brought a tremor to the cryptocurrency market, with a sudden price correction causing short-term panic and hundreds of millions in liquidated positions.

However, despite the wobble, analysts are divided on whether this signifies a broader market shift or a mere blip on the bullish radar.

Crypto Long Squeeze Triggers Liquidations

Over a 24-hour period ending Friday, March 15th, the global cryptocurrency market capitalization shed a cool 6%. This triggered a wave of automated liquidations, particularly for investors holding leveraged long positions – essentially large bets on rising prices.

According to Coinglass, a crypto data analysis platform, over $800 million worth of long positions were liquidated across the market. Bitcoin itself bore the brunt of the selling pressure, dipping as low as $67,000 – its lowest point in over a week.

Liquidation heatmap in the 24-hour timeframe. Source: Coinglass

The pain wasn’t evenly distributed. Over one third of the liquidations, a total of $660 million, came from long positions on Bitcoin.

Altcoin Bloodbath Follows Bitcoin’s Lead

The tremors weren’t confined to Bitcoin. The correction spilled over to the altcoin market, with popular tokens like Cardano, Dogecoin, Shiba Inu, and XRP all experiencing significant price drops.

This, in turn, triggered further liquidations for long positions held on these altcoins. XRP traders alone saw over $10 million liquidated, with nearly $11 million coming from long positions.

Total crypto market cap is currently at $2.5 trillion. Chart: TradingView

Crypto Market Fights Back: Buying The Dip

Despite the week’s fright, the overall sentiment in the crypto market remains surprisingly bullish. This is primarily fueled by the swift buying activity observed at key support levels as prices dipped.

Bitcoin, the world’s most sought-after crypto asset, for example, has already staged a partial recovery, bouncing back to a little over $69,000 at the time of writing.

Similar rebounds have been observed across several altcoins, suggesting that investors might be viewing this as a buying opportunity.

This correction can be seen as a healthy market reset after a strong rally, some analysts say. While some leveraged positions got burned, the fact that investors are stepping in to buy the dip indicates continued confidence in the long-term potential of cryptocurrencies.

A Continued Balancing Act

The weekend’s events serve as a microcosm of the ongoing struggle within the crypto market. On one hand, there’s a growing sense of institutional adoption and mainstream acceptance, fueling a bullish sentiment.

On the other, the inherent volatility of crypto assets continues to pose a challenge, with sudden price swings capable of inflicting significant losses on unsuspecting investors.

Featured image from Pexels, chart from TradingView

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The recent Coinbase app outage triggered a staggering $100 billion loss in Bitcoin (BTC) market cap within a mere 15 minutes. Though the issue has been fixed, the Coinbase outage brought massive volatility into the crypto market today. However, Bitcoin bounced back after the sudden downfall and sustained above the $62,000 mark.

Coinbase Outage Sends Shockwaves Through Crypto Space

According to a post on X by The Kobeissi Letter, between 12:15 p.m. ET and 12:30 p.m. ET on February 28, the Bitcoin price plummeted from $64,000 to $59,000, marking a nearly 9% swing. The pullback could be attributed to Coinbase being down as its users found themselves staring at a $0 balance in their accounts.

This disruption unfolded just as Bitcoin was just 10% away from a new all-time high, intensifying the shockwaves rippling through the cryptocurrency community. Moreover, the Coinbase outage led to a lot of hate comments being directed at the crypto exchange.

At press time, the Bitcoin price was up by 5.70%, settling at $62,627.55 on Wednesday, February 29. The crypto boasted a market cap of $1.22 trillion, bouncing back from the recent losses. In addition, the BTC market cap soared by a whopping 105.26% to $92.27 billion. The Bitcoin price attained a high of $63,913.13 before the recent pullback and rebound frenzy.

Also Read: Coinbase Suffers Technical Glitch Amid Ascending Bitcoin Price

CEO Brian Armstrong Says The Issue Has Been Fixed

Coinbase CEO Brian Armstrong attributed the outage to the unprecedented inflows into the crypto market lately. In a post on X, Armstrong noted that the “apps are now recovering.” He highlighted that the team had been ready for a 10x surge in volume, however, the reality exceeded expectations owing to the Bitcoin rally and the Coinbase app crashed.

The Coinbase CEO underscored that the cost factor plays a major role in the website and app maintenance. He said, “It’s expensive to keep services over-provisioned, but we’ll need to keep working on auto-scaling solutions, and killing any remaining bottlenecks.” Whilst, he appreciated the users’ patience when Coinbase was down and stated, “Thank you for bearing with us.”

However, users spotlighted the app’s poor maintenance and bashed Armstrong for not taking adequate actions. They highlighted that other crypto exchanges that offer similar services like spot and derivatives trading didn’t witness an outage, emphasizing Coinbase’s inefficiency.

Also Read: Bitcoin (BTC) Price: MicroStrategy’s Unrealized Profit Hits $5.7B High

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