Ether's 20% Freefall Triggers $1B Liquidation Cascade as Crypto Losses Accelerate

Ether experienced a significant 20% price drop, which triggered a cascade of liquidations totaling approximately $1 billion, according to recent reports. This sharp decline has intensified concerns about the cryptocurrency's stability and potential for further losses. Analyst Markus Thielen has projected that Ether's price could fall further, potentially reaching a range between $2,700 and $2,800. These developments suggest that the market may not have reached its bottom yet, indicating ongoing volatility and uncertainty in the crypto sector. The substantial liquidation volume underscores the heightened risk faced by investors amid this downturn. As the situation evolves, market participants are closely monitoring price movements to assess the broader impact on the cryptocurrency landscape.