Ethereum was hit particularly hard by the market decline, falling more than 5% in 24 hours and dropping to $2,070 before remaining above the $2,000 support level. A Hyperliquid trader lost nearly $20 million on ETH longs, while a $48.16 million liquidation was recorded on Binance. At the same time, several whales bought the dip: one borrowed 22 million USDT from Aave to acquire 10,000 ETH at an average price of $2,155, and another withdrew 3,500 ETH from Binance, bringing weekly withdrawals to 16,577 ETH, worth $37.5 million. Lookonchain and Onchain Lens data highlight the coexistence of intense selling pressure driven by liquidations and renewed spot buying by large investors.
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