Why Is Ethereum ($ETH) Dropping Today?
The recent Ethereum price dip has caught traders off guard, with $ETH down 1.5% in the past 24 hours, currently trading around $1,803.
Despite brief recoveries and increased whale activity, bearish pressure remains strong. Market volatility has spiked, with a 12% rise in trading volume hitting $10.52B.
Data from Coinglass shows $37.45M in liquidations, largely from overleveraged long positions, as ETH fell from $1,840 to $1,785 before rebounding and crashing again.
Adding to market uncertainty, Ethereum co-founder Vitalik Buterin raised concerns over Layer-2 security, shaking investor confidence. Meanwhile, declining open interest signals a forced exit from bullish bets.
Still, the long-term outlook remains optimistic for Ethereum, but in the short term, caution prevails.
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