Ethereum Price Plunge: ETH Drops 20% Causing $1 Billion Liquidation Event

Ethereum (ETH) experienced a dramatic 20% price decline, triggering massive liquidations exceeding $1 billion across cryptocurrency markets. This significant downturn accelerated losses throughout the crypto sector as leveraged positions were forcefully closed. The liquidation cascade demonstrates the volatile nature of digital asset markets during bearish trends, with Ethereum leading the downward movement that affected numerous altcoins and trading positions across major exchanges.