Ethereum sees biggest liquidation event in six months with $242M in 24 hours
- —Binance liquidations topped $157M in an hour, 92% were longs
- —$292M in ETH and about $200M in BTC were liquidated in 24 hours
- —ETH dropped to $2,362.43, losing more than 8% over the week
- —ETH open interest shrank from nearly $20B to $15B
Why it matters: The wipeout of long positions could set up a short squeeze, but sentiment remains cautious and a slide below $2,000 is still possible.
Source: Cryptopolitan