Ethereum’s Price Plummets: A Comedy of Errors in the Crypto World! 😂

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Ah, Ethereum! The noble ETH, now languishing at a mere $1,816, as if it were a tragic hero in a play of misfortune. 🎭

With a 24-hour volatility of 1.2% and a market cap that has shrunk to $219.12 billion, our dear Ethereum finds itself teetering on the edge of despair, having dipped below the fabled $1,800 mark. Alas, the market is as gloomy as a rainy day in Paris! ☔️

Earlier today, it plummeted to $1,769, a staggering 19% decline over the past month! One might say it is hovering like a lost soul, desperately seeking the $1,800 zone. 🥴

According to the wise sages at BitAcademyWeb, ETH is now trading a whopping 35% below its 200-day exponential moving average (EMA). A sign, perhaps, that the bulls have taken a long vacation, leaving the bears to frolic freely! 🐻

Should Ethereum dare to fall below the critical support level of $1,750, the next destination on this tragic journey could be a dismal $1,600. To regain its former glory, it must conquer the formidable resistance at $2,100. A Herculean task, indeed! 💪

In a twist of fate, the US-based ETH spot exchange-traded funds have concluded their four-week outflow streak with a net inflow of $4.7 million. A small victory in a sea of losses, wouldn’t you agree? 🥳

However, these investment products have seen a net outflow of approximately $410 million this month, with a trading volume of $6 billion. Quite the spectacle, as if the audience is throwing tomatoes at the stage! 🍅

Let us not forget the last major net inflow of $307.8 million into spot ETH ETFs, which occurred on the fateful day of February 4. A day that shall live in infamy! 📅

Trader Loses $13.3 Million in ETH: A Comedy of Errors!

The descent below $1,800 has triggered a staggering $66.5 million in 24-hour ETH liquidations, surpassing even Bitcoin’s own $65.8 million. Oh, the irony! 😂

Of this, over $55 million belongs to long positions, while $10.8 million in shorts have been swept away like leaves in the wind. 🍃

The largest single ETH liquidation order, worth a jaw-dropping $13.3 million, was recorded on Binance, the grand stage of crypto trading. 🎪

It is worth noting that Ethereum’s fall is but a reflection of the market’s overall bearish sentiment. The global crypto market capitalization has declined by 1.8%, now resting at $2.64 trillion. A tragic tale indeed! 📉

In the past 24 hours, total crypto liquidations reached a staggering $227 million, with 78% of them, nearly $180 million, being long positions. A veritable bloodbath! 🩸

Yet, hope springs eternal! A market-wide U-turn to the green zone could potentially lift ETH from its sorrowful state, despite the ominous technical indicators. Let us keep our fingers crossed! 🤞

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2025-03-31 19:12