Ethereum

Bitcoin

Flash

<ul>
 <li><strong>At the time of writing, ETH is trading at $2246, down 3.84% in the last 24 hours.</strong></li>
 <li><strong>If the ETH price manages to go above $2301, then the price will likely test $2349 level.</strong></li>
</ul>
<p>Bitcoin and <a href="https://thenewscrypto.com/ethereum-layer-2-network-blast-surpasses-800m-tvl-milestone/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> were in the forefront of the substantial decline that occurred in the crypto market today. However, according to recent market statistics from Coinglass, there is a significant difference in trading activity.</p>
<p>Over $354 million was liquidated from long crypto traders in the previous 24 hours, while just $54 million was liquidated from short traders. Following a recent bullish flag pattern, this indicates a developing negative mood.</p>
<p>Despite investors’ concerns about the recent flash selloff of <a href="https://thenewscrypto.com/bitcoin-price-plunges-over-5-find-out-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> and altcoins, CoinShares reported a $43 million influx in their weekly cryptocurrency report. Bitcoin received the vast majority of fund inflows. Compared to Bitcoin’s $19.8 million influx last week, Ethereum witnessed an inflow of $9.7 million.</p>
<h3 class="wp-block-heading" id="h-investors-booking-profit">Investors Booking Profit</h3>
<p>In Monday’s flash collapse, Ethereum’s price was among the hardest impacted. Since the price fell, it has trended low around $2,200 and was the first time it has happened in the last week.</p>
<p>The fact that big holders have been dumping is one of the most apparent reasons why the price of Ethereum dropped suddenly. Many investors made a profit this month as ETH reached its highest point in the previous year.</p>
<p>At the time of writing, ETH is trading at $2246, down 3.84% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 52.43%. The price has been consolidating post the recent flash selloff and finding support at $2202 level.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_1D_graph_coinmarketcap.png" alt="" class="wp-image-87183" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_1D_graph_coinmarketcap.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_1D_graph_coinmarketcap-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>If the ETH price manages to go above $2301 resistance area then the price will likely test $2349 level. However, if the bears drive the price below $2202 level, then it will decline further to test $2198 support level.</p>

Ethereum Witnesses Flash Selloff as Market Sentiment Turns Negative

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TheNewsCrypto

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