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Analysis: ETH's fall in early July led to the liquidation of long positions of over 300 million dollars, and the possibility of short-term selling by investors was lower
ETH fell 18% between July 1 and July 8, with a low of $2,826. It has now rebounded to around $3,070. Investors' disappointment is understandable, as a leveraged long position of $313 million was liquidated during this period. While the current price is still below the previous $3,400 support level, on-chain and derivatives indicators show that traders are gradually regaining confidence. On-chain analyst Leon Waidmann disclosed data showing that 40% of ETH supply is locked in pledges and DApps...
2024-07-11 04:36:20
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