Ethena drops 12.3% to $0.184 as long liquidations top $8.2M
- —ENA fell 12.3% in 24 hours and trades near $0.184
- —Over $8.2 million in longs were liquidated as volatility topped 15%
- —Ethena futures netflow hit -$38 million on $301 million of outflows
- —A whale sold nearly $800,000 worth of ENA before the CPI print
Why it matters: If selling persists, $0.16 is the next downside level, while reclaiming $0.20 would weaken the bearish case.
Source: AMBCrypto