ETH Longs Liquidated $2.98M at $4,400 — Short-Term Weakness
I saw $2.98M of ETH long positions liquidated at $4,400, which signals forced selling and adds short-term downside pressure to the market.
I will be cautious and monitor whether price and futures open interest stabilize before re-entering or adding exposure.
Analysis
The $2.98M liquidation at $4,400 likely triggered stop cascades and increased volatility; this points to short-term bearish pressure until buyers absorb the forced selling and open interest declines.
Recommendation
Stand aside or trim exposure for now. Wait for clear stabilization in price and a drop in futures open interest before considering new long positions.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.