Ethereum’s price drops by 3.94%: Ethereum’s price has fallen by 3.94% to $3,842.05, marking its steepest correction since november 14. This drop is attributed to a funding rate reset influenced by Bitcoin’s market movements, leading to significant liquidations.
44 million in liquidations affect ETH’s value: over $44 million in leveraged positions were liquidated, with $42 million in long positions. This affected Ethereum’s price, but analysts suggest recovery is possible. As ETH’s funding rate approaches neutral, the market might see stabilization as trading interests adjust.
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