$ETH Ethereum (ETH) suffered a more than 27% crash within the past 48 hours, briefly dropping to a two-year low of $1,410 before recovering the $1,500 level on Monday. The decline, per Coinglass data, sparked $257.87 million in liquidations across ETH's derivatives market during the period.

On-chain data also shows most investors are capitulating, sending ETH realized losses past $500 million, according to Santiment. Most recent selling activity stems from coins purchased in the past month, highlighting short-term holders' strong reaction to downside price moves.