Ethereum traded at $2,350, losing 6.5% of its market cap over 24 hours after a liquidation-driven sell-off exposed how quickly leveraged ETH positions can unwind. Total crypto liquidations reached $942.1 million, with longs representing 91.6%, of which ETH accounted for $286 to $288.6 million. The immediate catalyst was hotter-than-expected US inflation: annual CPI accelerated to 3.7%, above the 3.6% forecast, while core inflation rose to 2.6%. First support sits at $2,250 and resistance at $2,500, leaving the market at a critical technical decision point.
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