Ethereum’s $177M Long Squeeze Sparks Fear: Can ETH Hold Above $2.1K?
Ethereum longs have surged, triggering a $177M long squeeze that raises alarms about a potential drop below the $2.1K support level.
Analysts warn that the hidden catalyst behind the bullish positioning could be a shift in on-chain activity or upcoming protocol upgrades, which may either fuel further gains or precipitate a sharp correction. If ETH fails to hold above $2.1K, the liquidation cascade could extend to DeFi protocols, amplifying market volatility and testing trader sentiment across the crypto space.
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