Ethereum: $4,400 Breakdown Could Trigger $1.19B Long Liquidations

I believe Ethereum faces a critical level at $4,400: a break below it would likely force roughly $1.191 billion of long liquidations on major centralized exchanges. This is a sharp downside risk driven by concentrated leverage around that price.

I’m watching order books and funding rates closely; a fast drop could cascade as stops and margin calls trigger. Traders should expect amplified volatility and potential short squeezes if liquidity thins.