Ethereum Loses 11% on Crypto Investors’ Flight to Safety
Though trading signals indicate recovery is on pace, Ethereum (ETHUSD) has lost about 11% in the last 24 hours in the cryptocurrency market on Friday.
Ethereum is down 10.90% to $1,900.31 in 24h, underperforming a broader market sell-off primarily driven by a cascading liquidation event and extreme risk-off sentiment.
Ethereum’s drop is part of a violent market-wide deleveraging event, compounded by defensive rotation away from altcoins. The market-wide deleveraging and liquidations, with over $1.28 billion in Bitcoin liquidations sparking a cross-crypto cascade.
Crypto analysts said capital rotation into Bitcoin during “Bitcoin Season” and a technical breakdown below key support levels. If ETH holds above the $1,900 pivot, a relief bounce toward $1,945 is possible, traders said.
A sharp market drop triggered massive leveraged position liquidations. Bitcoin saw $1.3 billion in liquidations over 24h, a 209% spike.
This created a selling cascade that swept through major assets like ETH. The CMC Fear & Greed Index hit “Extreme Fear” at 5, reflecting panic. The move was amplified by forced selling from over-leveraged traders, not a fundamental ETH-specific issue.
ETH is underperforming due to a market-wide flight to perceived safety (Bitcoin) and a loss of technical support. ETH dominance stabilizing; a reclaim of the $1,945 level would be a positive signal.
The immediate trigger is whether the liquidation flush is complete. The key pivot is the daily level at $1,900. If buying emerges here, a retest of the $1,945–$1,978 resistance zone is likely. Transcorp Power Profit Rises by 14%, Board Hikes Dividend
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