Ethereum Hit by Wave of Sell-offs, Drops to $2,875
Ethereum (ETHUSD) has been hit by a wave of sell-offs in the cryptocurrency market, causing the second-largest digital asset price to decline sharply.
The 24h drop stems from macro-driven market panic in the crypto markets, technical breakdowns activating liquidations, and institutional capital flight – all pointed at deep-rooted bearish sentiment.
Ethereum is trading at $2,875 at the press time, down by about 9% in 24 hours with total trading volume of $35.86 billion. According to data from the CoinMarketCap.com, ETHUSD trading volume has fallen by a quarter in 24 hours as investors continue to close positions.
ETH broke below the psychological $3,000 support – its lowest since July 2025 – violating a descending channel pattern. This triggered $210M in long liquidations within 24 hours.
Crypto traders said liquidations and institutional moves are testing Ethereum’s resilience, but the support offers a technical lifeline. ETH price has recorded 16% weekly price depreciation.
Ethereum navigates liquidations and institutional moves while testing a key technical support zone. Blockchain analyst Yu Jin reported that investor Ma Ji Da Ge faced liquidation of 775 ETH worth $2.3 million after increasing his position, leaving 2,480 ETH.
U.S. spot Bitcoin ETFs recorded $373 million in outflows, including BlackRock’s iShares Bitcoin Trust logging its largest single-day redemption since launching in January 2024. Ethereum and Solana vehicles saw $74 million in outflows and $30 million in inflows, respectively.
The entire crypto market fell 5.49% in 24 hours, with Bitcoin dropping below $91,000. The Crypto Fear & Greed Index plummeted to 16—its lowest since March 2025—signalling panic selling.
U.S. spot Ethereum ETFs saw $165 million in outflows from BlackRock’s ETHA alone, reversing three weeks of inflows and occurring alongside Bitcoin ETF redemptions. # Ethereum Hit by Wave of Sell-offs, Drops to $2,875 Bitcoin Slumps to $88k over Persistent Risk-Off Sentiment
