Ethereum News Today: Major ETH Position Liquidated Amid $226M Crypto Market Slide

A single address has fully closed its long Ethereum (ETH) position, incurring a profit or loss exceeding $17 million over the past five days. The address previously held a substantial ETH position, which had generated over $18 million in gains just five days ago. However, the recent market downturn significantly eroded these profits, leaving only approximately $494,700 in remaining gains as of the latest data [1]. This move coincides with broader market turbulence, with Ethereum and Bitcoin experiencing sharp declines in leveraged trading environments.

The liquidation of this ETH position reflects a broader trend of long position closures in the cryptocurrency derivatives market. Over the past 24 hours, more than $700 million in long positions have been liquidated, with Ethereum bearing the largest single-crypto losses at $226 million [2]. Bitcoin, too, faced significant liquidation pressures, with $180 million in long positions being wiped out amid heightened volatility [3]. The market turmoil appears to have been exacerbated by macroeconomic concerns, including trade war anxieties and the looming U.S. tariff deadlines, which have spilled over from traditional financial markets into the digital asset space [4].

The address in question has shifted its focus to Bitcoin, currently holding a long BTC position of 640 coins, valued at approximately $72.3 million [1]. This strategic reallocation suggests a response to the recent volatility and uncertainty in the Ethereum market. Meanwhile, Bitcoin’s price has dipped below $115,000, marking its lowest level in weeks, while Ethereum has seen a notable drop from $3,600 to $3,431 in a short period [5]. These movements have contributed to a broader decline in the overall crypto market capitalization, with the total value falling nearly 4 percent in the past 24 hours [4].

Ethereum-based spot ETF products recorded mixed flows on Thursday, with $17 million in inflows reported, compared to $6 million the previous day and $219 million on Tuesday [4]. Despite the drop in price, Ethereum has managed to retain its position in the global asset rankings. However, the recent losses highlight the increased correlation between traditional financial markets and crypto, particularly during periods of heightened volatility [4].

The CMC Crypto Fear and Greed Index currently stands at 57, indicating a neutral market sentiment, down from 62 the previous day, which suggested a more bullish outlook [4]. Bitcoin’s dominance in the crypto market has edged up slightly to 61.2 percent from 60.8 percent the day before, while Ethereum’s share has dipped marginally to 11.7 percent [4].

As the market continues to navigate uncertainty, the liquidation of the ETH position by this address underscores the vulnerability of leveraged positions in times of sharp price corrections. The broader market remains under pressure from macroeconomic headwinds, with investors closely watching key economic indicators, including U.S. nonfarm payrolls, which are expected to be released in the coming days [4].

Source:

[1] title1: An Address Has Liquidated a Long ETH Position, With a

url1: https://www.moomoo.com/hans/news/flash/20812026/an-address-has-liquidated-a-long-eth-position-with-a

[2] title2: Crypto Today: Could Bitcoin, Ethereum, XRP Flip the

url2: https://www.mitrade.com/au/insights/news/live-news/article-3-1005308-20250801

[3] title3: Bitcoin Plunge Below $115000 Wipes Out $700M In Crypto

url3: https://www.mitrade.com/insights/news/live-news/article-3-1007105-20250802

[4] title4: Cryptos Herald August On A Negative Note As Trade War

url4: https://www.rttnews.com/3560985/cryptos-herald-august-on-a-negative-note-as-trade-war-deepens.aspx

[5] title5: What Are the Reasons for the Market Decline? Bitcoin and

url5: https://www.binance.com/en/square/post/27767975793033