The downward trend in Bitcoin (BTC) and altcoins that began in October continues, with prices falling to levels not seen for a long time.
Bitcoin fell to $60,000, a level not seen since October 2024, while the largest altcoin, Ethereum ($ETH), also dropped below $2,000.
Analysts argue that the market is in a bear market and prices could fall further, identifying three risky areas for Ethereum.
At this point, the cryptocurrency analysis platform Lookonchain announced that there are three liquidation zones in Ethereum, putting $1.76 billion in assets at risk.
Lookonchain, through its X account, identified three major on-chain liquidation zones for Ethereum ($ETH) and listed them as follows:
- “Trend Research holds 356,150 $ETH (worth $671 million). These $ETH are at risk of liquidation in the $1,562–$1,698 price range.”
- Ethereum co-founder Joseph Lubin and two anonymous whales hold 293,302 $ETH (worth $553 million). This $ETH is at risk in the $1,329-$1,368 range.
- The giant whale named 7 Siblings holds 286,733 $ETH ($541 million). These $ETH remain at risk in the $1,029–$1,075 range.
Ethereum fell to levels around $1,760 during yesterday evening’s drop, but later recovered to reach $1,900. $ETH’s loss over the last 24 hours remains above 10%.
*This is not investment advice.
