Crypto Market Sees $250 Million Liquidation Bitcoin Drops Below $103,000 Ethereum Falls Under $2,400

The crypto market experienced a significant liquidation event, with over $250 million in long positions being closed within a short period. This turbulence led to a drop in Bitcoin below $103,000 and a brief fall in Ethereum under $2,400. The liquidation event was widespread, affecting major trading platforms and causing heightened volatility. Ethereum was the most affected asset, with $108.22 million in total liquidations, followed by Bitcoin with $60.57 million and Solana with $22.67 million. Smaller-cap assets also contributed to the liquidated total, with $20.37 million added under the “Others” category.

Ethereum's large liquidation figure indicates aggressive leveraged trading and extreme volatility. The liquidation heatmap showed Ethereum holding the top spot in liquidation volume, pointing to intense trading activity across ETH markets. Various altcoins, including XRP, DOGE, and SUI, also recorded visible liquidation spikes, although in smaller amounts. The heatmap displayed the volume for each asset in proportion to its liquidation share, allowing users to switch between exchanges and timeframes, including 1-hour to 24-hour views. Traders faced rapid position closures during high-volume sell-offs.

Despite the recent dip, Ethereum recovered swiftly and now trades around $2,443. It bounced from a support zone between $2,300 and $2,395, with buyers entering aggressively in this region, reversing the price from the local low. The liquidity zone between $2,111 and $2,395 provided a key reaction point. The resistance area between $2,576 and $2,730 remains crucial, with Ethereum testing this level multiple times without success. However, each attempt adds pressure just beneath resistance, setting the stage for a potential breakout. Volume increased during rallies, particularly around $2,395, confirming its strength as a reaction level.

Momentum indicators like RSI have cooled after recent highs, allowing for renewed buying energy. The next target zone lies between $2,900 and $3,100. Hence, breaking above $2,576 could unlock this upside. For now, Ethereum remains in accumulation as long as it holds above $2,300. This suggests that Ethereum is eyeing a breakout above the $2,576 resistance after a month-long accumulation, with targets set between $2,900 and $3,100. The recent market turbulence and liquidation event have not deterred buyers, who have shown strong activity near critical liquidity zones.