Ethereum falls to $3,613.16: Ethereum’s price significantly dropped to $3,613.16, impacting the entire cryptocurrency market. This has sparked a wave of liquidations, affecting over 571,838 traders. The market cap also decreased by 3.80%, highlighting the intense volatility surrounding this altcoin.

$1.72 billion in liquidations: a total of $1.72 billion in liquidations occurred, affecting 571,838 traders, with significant losses visible. Notably, one Ethereum whale experienced a MAJOR setback, losing $19.69 million due to the sharp price decline. Such events underscore the risks tied to leveraged trading.

Hopes to reach $4,000 depend on factors: Ethereum’s potential recovery to the $4,000 mark is contingent on advancements within its ecosystem. Factors like network improvements, broader market sentiment, and economic influences play crucial roles. The current market trend suggests consolidation but further declines are possible if a bullish reversal isn’t realized.