Ethereum Bulls Face $185 Million in Liquidations as ETH Price Falls to 2-Month Low

Amid the broader market correction once again today, eth price has taken a big hit and fell below $3,000 for the first time since early November.

This has led to many liquidations by overleveraged bulls, with the figure skyrocketing to almost $200 million for eth-related positions alone.

As the chart above demonstrates, the second-largest cryptocurrency surpassed $3,000 after the US election in early November and didn't look back for the next two months.

Additionally, the asset peaked at just over $4,100 on December 16, but that was as far as it could go. During the year-end crash, eth fell to $3,100 but managed to defend the $3,000 support.

It rebounded and went on the offensive in early 2025. Its annual peak came on January 7, when it jumped to $3,750. However, that was when the situation worsened and eth, along with the rest of the market, began to sink.

The subsequent rejection took ethereum price to $3,300, where it spent most of the following days. However, another downside leg initiated today by the bears pushed it further down, and minutes ago it fell below $3,000 for the first time since early November.

eth is down precisely 20% from its January 7 high (or $750 in dollar perspective). Today's drop was particularly painful for overleveraged traders with long positions, as the total of such liquidations has reached $185 million, according to CoinGlass.

In fact, eth liquidations have even surpassed those of btc, whose price fell from $96,000 earlier this morning to below $90,000 briefly.

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