Are Your Ethereum Longs at Risk? Stay Informed!
Concerns loom over Ethereum (ETH) long positions as the market faces potential weekend volatility. Recent price swings have triggered liquidations, with over $500 million in long positions on the line. Stay informed to protect your investments.
Sharp Price Swings Shake the Ethereum Market
Last weekend, ETH’s price took a hit, dropping 2.5% to $3,036 and causing liquidations for some long positions. This decline followed a more significant 9% drop on April 13, hitting a low of $2,950 before recovering slightly.
- Current ETH price: $3,052, down 0.52% in the last 24 hours
- A possible repeat of these price swings could lead to more liquidations, risking over $853 million in case of a 9% decline.
Uncertainty Looms for Ethereum Longs
The potential rejection of spot Ethereum ETF applications by the US Securities and Exchange Commission (SEC) in May adds to the market’s uncertainty. Industry experts anticipate the SEC’s negative response to these applications.
“Ethereum ETF is likely not approved in May, but it surely will in August.” – Michaël van de Poppe
The SEC’s anticipated decision comes after meetings with regulators and concerned parties, leaving stakeholders in the dark regarding the fate of these ETF applications.
Consensys Faces Challenges Amid Regulatory Ambiguity
Blockchain technology company Consensys finds itself in a predicament over the potential classification of ETH as a security. Regulatory uncertainty adds to the growing tension surrounding spot Ethereum ETFs, impacting Ethereum investors and the altcoin market.
- Combined weekend volatility and ETF regulatory concerns create a precarious situation for over half a billion dollars in Ethereum longs.
Hot Take: Prepare for Potential Weekend Volatility
Stay vigilant as an Ethereum investor, monitor market movements, and brace for potential weekend volatility. Protect your investments and make informed decisions to navigate the uncertain waters of the crypto market.
Sources:
– Coinalyze – Ethereum Liquidations
– MSNBC – SEC Expected to Deny Spot Ethereum ETFs
– Reuters – SEC’s Stance on Ethereum ETFs
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