Ethereum Crashes 5% to $2,554 as $232.7M in Longs Get Liquidated
- —ETH fell to $2,553.64 from an open of $2,697.42, down 5.31% on the day
- —24-hour ETH liquidations hit $232.67 million, with $221.18 million (95.06%) in longs
- —Largest single liquidation was a $26.64 million ETH position; Binance accounted for $112.42 million
- —Spot Ethereum ETFs saw $201.9 million in net outflows on October 6, a sixth straight day
Why it matters: ETH is testing its 50-day moving average near $2,546; a break opens the door to $2,500, while reclaiming $2,600–2,683 is needed to reverse the short-term damage.
Source: The Crypto Times