October Turns Bearish: Ethereum Dips to $2,464 as $529 Million in Longs Get Liquidated!

The post October Turns Bearish: Ethereum Dips to $2,464 as $529 Million in Longs Get Liquidated! appeared first on Coinpedia Fintech News

October has not begun well for Ethereum (ETH) traders as rising tensions in the Middle East caused a significant market downturn. In the last 24 hours, over $529 million in long were liquidated, with long traders suffering the most. Meanwhile, ETH’s price dropped to $2,464, the lowest in ten days, triggering forced liquidations for many who bet on a price increase. The losses for long traders totaled $97.96 million, the highest in the past 2 months. Despite the setback, the funding rate for ETH futures sits at 0.0052%, suggesting some ongoing optimism.