Ethereum's price dropped to approximately $2,100, marking a 7% intraday decline, influenced by the Federal Reserve's interest rate decision and inflation concerns. This downturn led to $492.8 million in total long liquidations across the crypto market, with $144 million in ETH positions forcibly closed. If Ethereum falls below $2,000, it could trigger over $2.5 billion in leveraged long liquidations, posing a risk of further declines. U.S. spot Ethereum ETFs saw net outflows of $55.5 million, ending a streak of net inflows. Historically, Ethereum has declined following FOMC meetings, with typical pullbacks ranging from 16% to 23%. The current key support level is $2,100, aligning with the 50-day moving average. A break below this could see Ethereum testing $2,000, with potential further declines toward $1,800 if bearish momentum continues.
Ethereum Faces $1,800 Support Test Amid Rising Liquidation Risks
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