Ethereum Faces $8.71B Liquidation Risk as ETH Tests $2,350 Support
- —ETH liquidations reached $283 million in 24 hours
- —Ethereum open interest fell 11% between October 4 and 14
- —About $8.71 billion in potential short liquidations sits above the market
- —Losing $2,350 opens the path to $2,200; reclaiming $2,430 could spark a squeeze
Why it matters: The $2,350 level defines ETH's near-term trend: a breakdown would deepen ETF-outflow pressure, while a move above $2,400 risks a short squeeze.
Source: Coinpedia