ETH Plunge: Oops! šŸ“‰

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So, Ethereum. It was having a moment, wasnā€™t it? Nearly a month of everything beingā€¦fine. Green, even! And then, like a housecat surprised by a cucumber, it justā€¦reversed. Apparently, things canā€™t be good for long. Especially not in crypto. šŸ™„

  • Ethereum’s price took a 5% nosedive in the last 24 hours. For those keeping score at home (and who isnā€™t?), that’s a 10.6% drop from its recent peak. Peak! So dramatic.
  • Over $870 million in crypto bets went *poof*. Ethereum alone was responsible for a tidy $210.6 million of that. Someone’s having a bad day. Probably multiple someones.
  • Everyone, institutional investors *and* regular people, decided to cash out at the same time. It’s always the party when everyone decides to leave simultaneously.

The price of Ethereum (ETH) has, shall we say, adjusted approximately 5% in the last 24. It’s currently hovering around $4,255, which, honestly, still sounds like a made-up number. It all started over the weekend, a classic case of the fun ending right when you least expect it. A 10.6% drop from a peak of $4,759. I mean, come on. Youā€™d think someone would have seen that coming. Or maybe no one wanted to be the bearer of bad news.

The drop marks a rather forceful undoing of last week’s rally, which had given us all a fleeting moment of optimism. But what on earth is going on?

Ethereum price crash explained: profit-taking and longs get rekt

Apparently, a lot of people got a little too confident. We’re talking “leveraged long positions” getting wiped out. Billions of dollars, justā€¦gone. Itā€™s like watching someone gamble away their rent money, but on a much, *much* larger scale.

In the past 24 hours, over $870 million in crypto positions were liquidated. Ethereum accounted for $210.6 million. That’s practically double the damage facing Bitcoin. Evidently, people were really, *really* sure about Ethereum. Which, as we now know, is never a good sign. It’s just a cascade of bad decisions, really. A beautiful, financial cascade.

And then there are the ETFs. Those exchange-traded funds, after a brief period of glory, decided to take a day off and go into the red. People are taking their profits, which is perfectly sensible, unless youā€™re one of the people left holding the bag. Data shows over $272 million was withdrawn. Investors, like sensible creatures, are locking in gains.

But ETH isn’t alone in its misery. Bitcoin is down a bit (2.3%), and Solana and XRP are also feeling the pinch (around 5%). Basically, the whole crypto party is experiencing a collective hangover. Itā€™s probably related to Jerome Powell’s upcoming speech and the general uncertainty about interest rates. Because *everything* always comes back to Jerome Powell.

Why is Ethereum down?

Long-term, they say things will be okay. But short-term? Mixed signals. It’s currently clinging to $4,134 like a toddler to a stuffed animal. Fall below that, and youā€™re looking at $3,651. And thenā€¦well, things could get ugly. It would pretty much erase all those delightful gains from earlier. Wouldnā€™t that be just *lovely*?

The “Relative Strength Index” is at 58, which means the enthusiasm has cooled. People are losing steam. Shocker. To get back on track, Ethereum needs to reclaim $4,500, and then maybe, just maybe, attempt to hit new highs. But honestly, I wouldn’t hold my breath. šŸ¤·ā€ā™€ļø

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2025-08-18 12:19