Ethereum price dips below $4,200 as market turns bearish
The post Ethereum price dips below $4,200 as market turns bearish appeared on BitcoinEthereumNews.com. Ethereum price retraced sharply as surging liquidations, whale selling, and a shift in market sentiment pushed the crypto market into fear territory. Summary Ethereum dropped below $4,200, down 6.8% in 24 hours, with volume surging 124% to $32.5B. Derivatives activity spiked, but open interest fell as $495M in positions were liquidated. Technicals show ETH testing support near $4,160, with resistance at $4,400–$4,500. As of this writing, Ethereum is down 6.8% over the past day, trading at $4,173. With a 7-day range of $4,206 to $4,659, the asset has lost 10% over the last week and 12% over the last 30 days. The sell-off coincides with a sharp uptick in trading activity. Ethereum’s (ETH) 24-hour volume jumped 124% to $32.5 billion. Derivatives trading mirrored the surge, with volumes spiking 183% to $93.8 billion, according to Coinglass data. However, open interest fell 5.2% to $60.2 billion, showing that traders are closing positions rather than adding new ones. The imbalance was evident in liquidations, where $495 million in ETH positions were wiped out in the past day, with long traders absorbing $478 million of the losses. Sentiment weakens as whales sell For the first time this month, the market entered “fear” territory as the Crypto Fear & Greed Index fell four points to 46. Some large holders were seen moving their coins to exchanges, according to on-chain data, which indicates an increase in sell-side pressure from whales. This implies that short-term price action is being driven by risk-aversion and profit-taking. The Federal Reserve’s 0.25% rate cut last week, which was the first in nearly a year, had previously caused Ethereum to rise. That spike briefly pushed ETH toward $4,700 before the recent decline. September has historically been one of the worst months for cryptocurrency returns, and the most recent reversal appears to follow…
The post Ethereum price dips below $4,200 as market turns bearish appeared on BitcoinEthereumNews.com.
Ethereum price retraced sharply as surging liquidations, whale selling, and a shift in market sentiment pushed the crypto market into fear territory. Summary Ethereum dropped below $4,200, down 6.8% in 24 hours, with volume surging 124% to $32.5B. Derivatives activity spiked, but open interest fell as $495M in positions were liquidated. Technicals show ETH testing support near $4,160, with resistance at $4,400–$4,500. As of this writing, Ethereum is down 6.8% over the past day, trading at $4,173. With a 7-day range of $4,206 to $4,659, the asset has lost 10% over the last week and 12% over the last 30 days. The sell-off coincides with a sharp uptick in trading activity. Ethereum’s (ETH) 24-hour volume jumped 124% to $32.5 billion. Derivatives trading mirrored the surge, with volumes spiking 183% to $93.8 billion, according to Coinglass data. However, open interest fell 5.2% to $60.2 billion, showing that traders are closing positions rather than adding new ones. The imbalance was evident in liquidations, where $495 million in ETH positions were wiped out in the past day, with long traders absorbing $478 million of the losses. Sentiment weakens as whales sell For the first time this month, the market entered “fear” territory as the Crypto Fear & Greed Index fell four points to 46. Some large holders were seen moving their coins to exchanges, according to on-chain data, which indicates an increase in sell-side pressure from whales. This implies that short-term price action is being driven by risk-aversion and profit-taking. The Federal Reserve’s 0.25% rate cut last week, which was the first in nearly a year, had previously caused Ethereum to rise. That spike briefly pushed ETH toward $4,700 before the recent decline. September has historically been one of the worst months for cryptocurrency returns, and the most recent reversal appears to follow…
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