Ethereum dropped to $2,315 on Bitstamp, its lowest level since the mid-August bullish rally, losing $200 in a single day. Market maker Wintermute continues to accumulate short positions on ethereum, holding $75.45 million in shorts on Hyperliquid, representing 86.4% of its $87.34 million in open positions. Ethereum ETFs also experienced massive outflows of nearly $130 million yesterday, after recording $25 million in net inflows the day before. In total, $293 million in leveraged positions were liquidated across the cryptocurrency market in 24 hours, with 92% being long positions.
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