With ETH below $1,805, the whales were liquidated at $306 million

Crypto Market began with a week that strengthened its volatility, which caused multiple liquidations, primarily affecting the long position acquisition. Today, data reported by Lookonchain shows that whales have settled a ton of Ethereum after falling below ETH’s recent $1,805.

Whale loses $306 million in ether

The long-time Ethereum-staked whales have lost hundreds of millions of dollars today after ETH prices fell immensely early today. Data shows that the whales have now been liquidated at 160,234 ETH ($306.85 million) as ETH fell below $1,805. Today, ether prices have dropped to a drop of $1,760.94.

Asset losses are rising as they are combined with significant market sentiment and a large high influx. The continued trend has led to asset prices below 1,800. At the time of press, ETH prices are trading at $1,918 after seeing a 1.3% surge in the last 24 hours. As a result, most investors have registered losses from their positions, and some have earned full liquidation.

About $1 billion has been settled

This whale loss is part of the total disaster seen in the crypto market. Since the beginning of this week, the market has been in widespread disruption, with many investors facing major losses. Over the past 24 hours, nearly $1 billion has been liquidated in the market, with ETH being the biggest hit, dropping its lowest level since December 2023.

Traders are captured unaware of sudden liquidation. Most of these traders had bullish bets that they expected the market to continue its upward momentum, but only if prices plummet, they will be fully discharged. The current situation illustrates the dangers of highly leveraged locations in highly turbulent markets. As prices drop, the rise in liquidation causes even more poor trends, forcing traders to sell their holdings and lose.

Several facts are responsible for the downward trend of the market. First, the growing fear of a recession has become a major catalyst for this bear market. Recently, President Trump warned about an economic “transition period” and made investors worried about what’s coming. Fear of a potential recession has caused a lot of uncertainty in an already struggling market.

Finally, the whales are undergoing large-scale relocations, suggesting potential off-roading. The multi-million dollar relocation shows that whales are relocating their holdings in response to price fluctuations. This suggests uncertainty in the market’s short-term movement, raising concerns about deeper price drops.