Ethereum holds near $2,700 as $414.1 million in longs sit in liquidation zones

Ethereum spent October 7 doing something rare for a crypto asset: almost nothing. ETH traded at $2,699.33, down 0.1% on the day. The quiet price action hides a more crowded picture in derivatives. About $414.1 million in ETH long positions sit in potential liquidation zones, alongside $640.6 million in shorts. The liquidation numbers, by the tracker Across the broader crypto market, about $148.3 million in leveraged positions were forcibly closed over 24 hours. Depending on the data provider, the figure ranged from $148 million to $154 million. The split between bulls and bears was nearly even. Longs accounted for $76.1 million of the total, and shorts made up $72.2 million. Ethereum’s share of the damage was modest. ETH liquidations came in between $15.7 million and $18.4 million, depending on the source. Gate reported $5.5 million in ETH longs liquidated on its platform alone. For context, ETH has been trading in a narrow band of roughly $2,700 to $2,715. Wiping out $15.7 million to $18.4 million inside a range that tight shows how thin the margin for error gets once leverage enters the picture. What a liquidation actually is Think of leveraged trading like buying a house with a ...