Crypto News

Market Correction: The recent crypto market correction has had a significant impact on ETH's price, causing it to drop from its all-time high of over $4,300. This correction was triggered by various factors, including Elon Musk's tweets about Bitcoin and China's crackdown on cryptocurrency mining and trading. As a result, many investors panicked and sold their ETH holdings, leading to a sharp decline in its price. Overleveraged Long Positions: Another contributing factor to ETH's drop was the high number of overleveraged long positions in the market. These are positions where traders borrow money to increase their buying power and make larger trades. When the market started to decline, these traders were forced to liquidate their positions, resulting in a cascading effect that further pushed down the price of ETH. Lack of Support Levels: During the market correction, ETH also faced a lack of significant support levels. This means that there were not enough buy...