Ethereum Slides Under $2,000 as Whale Distribution, Derivatives Deleveraging, and Macro Headwinds Converge

From fxleaders.com

Ethereum, is currently trading at about $1,963, down 3.8% over the last day due to a combination of bearish factors, including large holder selling, a collapsing derivatives market, and a risk-off macro environment. Although general market weakness is a backdrop for Ethereum’s collapse, ETH is being struck more severely than most. Ethereum is significantly underperforming its beta, as evidenced by the fact that Bitcoin plummeted about 2.73% over that time, while the total cryptocurrency market capitalization decreased about 2.62%. A flight away from riskier assets and general investor caution are reflected in the ... (full story)