Ethereum Whales Buy the Dip as ETH Crumbles 15% in 5 Days

Meanwhile, on-chain data shows that a massive ETH bull was liquidated for nearly $45 million. Although the entire cryptocurrency market is deep in the red once again today, Ethereum’s ETH has been hit the hardest among the larger-cap digital assets. The leading altcoin is down by over 5% on a 24-hour scale and currently sits inches above $2,100. Hours ago, though, it plummeted to another multi-month low of $2,070, putting the key $2,000 support in focus again. ETH Crash Wipes Out Whales The market-wide crash on Monday morning took ETH by storm, driving the asset to the aforementioned multi-month low. However, it hasn’t been the first such case in the past few weeks, as the broader market landscape quickly worsened following the Binance hack at the end of October. Last week’s midterm elections in the US brought another volatility wave, and ETH pumped to $2,450 at the time. The subsequent rejection first pushed it to $2,200, another key support level that held, before this morning’s leg down drove it below $2,100. This intense move south has harmed major whales. Onchain Lens reported that a Hyperliquid trader lost nearly $20 million on ETH longs across two accounts. Their combined Pn...