Ethereum Loses 11% On Crypto Investors’ Flight To Safety
Ethereum Loses 11% on Crypto Investors’ Flight to Safety
Though trading signals indicate recovery is on pace, Ethereum (ETHUSD) has lost about 11% in the last 24 hours in the cryptocurrency market on Friday.
Ethereum is down 10.90% to $1,900.31 in 24h, underperforming a broader market sell-off primarily driven by a cascading liquidation event and extreme risk-off sentiment.
Ethereum’s drop is part of a violent market-wide deleveraging event, compounded by defensive rotation away from altcoins. The market-wide deleveraging and liquidations, with over $1.28 billion in Bitcoin liquidations sparking a cross-crypto cascade.
Crypto analysts said capital rotation into Bitcoin during “Bitcoin Season” and a technical breakdown below key…
