ETH (Ethereum) decreased by 7.01% in the last 24 hours

Gate News Bot Message, January 21st, according to CoinMarketCap data, as of press time, ETH (Ethereum) is trading at $2,964.12, down 7.01% in the past 24 hours, with a high of $3,397.90 and a low of $2,921.12. The 24-hour trading volume reached $33.467 billion. The current market capitalization is approximately $357.753 billion, down $26.958 billion from yesterday.

Important recent ETH news:

1️⃣ Increased Long Liquidation Pressure in Derivatives Market Over the past 24 hours, the entire network experienced $335 million in liquidations, including $114 million in long positions on Ethereum, far exceeding the $4.45 million in short liquidations, indicating significant pressure on longs. Data shows that if ETH continues to decline to the $2,952 level, major CEXs could see total long liquidations reaching $807 million, creating a clear downward risk exposure. Meanwhile, well-known traders such as Huang Licheng, Maji Dage, Machi, and others have suffered consecutive liquidations, with unrealized losses accumulating into tens of millions of dollars, reflecting the fragility of high-leverage positions during a price decline.

2️⃣ Institutional Holdings Increase and On-Chain Staking Activity Rises Companies like BitMine continue to expand their ETH holdings, with the latest disclosure showing holdings of 4.203 million ETH. They have also been authorized by shareholder meetings to increase the maximum number of shares they can issue, providing more financing space for further ETH accumulation. Meanwhile, the proportion of staked ETH has hit a new all-time high, reaching nearly 30% of circulating supply, with about 36.2 million ETH locked in staking. The market has over 2.6 million ETH queued for staking, while the redemption queue remains relatively limited, indicating holders’ confidence in long-term network participation. This structure shows that, despite price pressure, spot demand for ETH remains steady.

3️⃣ Diverging Sentiments Among Professional Traders and Abnormal Whale Behavior One trader successfully closed a short position of 3,718.75 ETH held for 4 days, realizing a profit of $760,000. Meanwhile, several whales panic-sold a total of 5,000 ETH at high prices, worth over $16 million, revealing clear disagreement among traders about the market outlook. Notably, “buy low, sell high” whales have been continuously bottom-fishing within 11 hours, accumulating 12,200 ETH at an average price of $3,233, indicating strong bottom absorption willingness. On-chain position battles show bulls and bears tugging at the $3,000 level, and if derivatives short liquidations reach above $3,200, the total could hit $1.0-1.6 billion.

Currently, ETH’s price is at a critical point driven by a 7% daily decline. Short-term downside risks include chain reactions triggered by leveraged long liquidations, but on-chain fundamentals and institutional interest provide support. Macro variables such as Trump’s Davos speech could serve as catalysts for subsequent sharp volatility.

This message is not investment advice; please be aware of market volatility risks.