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      Ether Suffers Major Losses Amidst $1 Billion Crypto Liquidation

      On October 8, the cryptocurrency market experienced a significant liquidation event, resulting in over $1 billion in forced position closures within a 24-hour period. Ether, the second-largest cryptocurrency by market capitalization, was particularly hard hit, with liquidations estimated between $318 million and $356 million, which was six times the rate of Bitcoin's liquidations, reported to be between $215 million and $300 million.

      The majority of liquidated positions were long bets, accounting for 85% to 95% of total liquidations across the market. This event affected between 100,000 and 190,000 traders, with trading activity concentrated on platforms such as Binance, Bybit, OKX, and Hyperliquid. Binance alone captured more than half of the trading volume for Ether during this period.

      The selloff was triggered by a combination of macroeconomic pressures from Federal Reserve commentary and the breaking of key technical support levels. Ether's price fell below $2,500, while Bitcoin dropped below $81,000. The cascading liquidations were exacerbated by the high leverage used by traders, as a relatively small price movement can lead to significant losses in leveraged positions. As a result, the market dynamics shifted dramatically, highlighting the risks associated with high-leverage trading in volatile conditions.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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