Ethereum Slips to $2,570, Leaving $1.35B in Longs at Risk

Ethereum fell into the $2,500 range, exposing roughly $1.35 billion in leveraged long positions to liquidation risk, according to CryptoSlate. The asset dropped 1.35% over the past 24 hours to $2,570, losing the $2,700 mark.

Long positions with liquidation prices below Ethereum's current price total about $1.35 billion, larger than the roughly $999.78 million in short positions with liquidation prices above the current price. On Hyperliquid alone, about $112.83 million in Ethereum long positions are at risk at this level.

Liquidations and funding skew toward longs

Ethereum position liquidations over the past 24 hours totaled $233.36 million, of which about $221.87 million — 95% — were long positions. Over the past 12 hours, liquidations reached roughly $226.22 million, with longs accounting for $216.11 million.

On Binance, a $26.64 million ETHUSDC position was force-liquidated, the largest single liquidation in the crypto market during that period. Ethereum's open-interest weighted funding rate stood at -0.0041% and its volume-weighted funding rate at -0.0034%, indicating stronger short demand.

Binance's ETH/USDT account long-short ratio was 3.32 and OKX's was 2.13, according to CoinGlass. Binance large whales showed long-short ratios of 2.34 by account and 1.62 by position.

In earlier context, Ethereum spot ETFs saw about $202 million in net outflows on the 6th, the largest daily outflow since September 16, with outflows continuing for six consecutive trading days and about $408 million leaving during that period, according to SoSoValue. Cumulative net inflows into Ethereum spot ETFs since launch remain at $13.55 billion.