$ETH Why ETH Is Down These Days (Especially on Binance)
Broad crypto market downturn: Bitcoin and other major coins have fallen, and when BTC drops, ETH usually follows with even bigger percentage losses. �
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Liquidations of leveraged positions: Many traders betting on ETH went bust when prices fell, forcing automatic sell orders that pushed the price lower. �
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Low market participation: Fewer active traders and reduced futures interest make it harder for ETH to rebound quickly. �
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Profit-taking and whale selling: Large holders have sold some ETH, increasing selling pressure. �
MEXC
Competition from other chains: Alternative networks with cheaper fees and faster speeds have drawn attention, reducing ETH demand growth. �
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Economic uncertainty: Global market worries (like interest rates and risk aversion) push investors away from risky assets like crypto. �
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Psychological price barriers: Dropping below key levels (e.g., $3,000) often triggers more selling as investors lose confidence. �
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Binance-specific supply changes: Some traders have moved ETH off Binance, lowering exchange supply but, paradoxically, the price still stayed weak due to selling pressure.