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$ETH failed to hold the $3,400 mark and fell into a downtrend (-6.9%), demonstrating the fragility of a market driven more by leverage than spot demand.
š¹ The largest ETH long position on Hyper, with a position of approximately $700 million, saw it unrealized profit decrease by about $54 million. However, with the liquidation price at $2,082, the whale held firm despite the drop.
šø Conversely, trader Machi Big Brother suffered his 10th liquidation recently, bringing his total losses to over $22.9 million.
š¹ Open interest decreased by 55.29% while trading volume surged by 53.5%, confirming a massive sell off. Over $213 million worth of long positions were liquidated in two days.
šø The upward momentum is deeply oversold Stoch RSI at 17. Buyers must decisively reclaim the $3,000 mark failure to do so risk a drop to the $2,700 support level.
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