The cryptocurrency market has been under intense selling pressure and volatility in recent days. As Bitcoin fell below $100,000, Ethereum fell below $3,300 for the first time since mid-July, giving up all of its gains in 2025.
The crash has led to the liquidation of more than 340,000 traders, with $375 million worth of long Ethereum positions wiped out in the last 24 hours alone. Across the cryptocurrency market, $1.3 billion worth of positions have been liquidated, with $1.1 billion of that being long positions. The largest liquidation was for a single trader on the HTX exchange, worth $48 million.
Experts warn that if Ethereum fails to reclaim the $3,800 support, there is a possibility of a further drop to $2,400 and even $1,700. This selling pressure and extreme volatility have affected the confidence of retail investors, increasing the likelihood of emotional reactions and capital outflows from the market.
