Ether price plunges 14% in hours, triggers liquidation of $100M ETH futures contracts
On January 3rd, the price of Ether (ETH) experienced a significant correction, dropping 14% in just a matter of hours. The price fell from $2,380 to $2,050, a level that hadn’t been seen since December 1, 2023. This sudden drop led to the liquidation of $100 million worth of ETH long future contracts, which were leveraged bets on the price increasing. This sharp decline has left traders wondering about its significance and whether it signals the end of the bullish momentum that had been building.
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