Advertise
Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Apr 07, 2025 09:12 UTC
-
Ethereum Price Falls Below $1,550 in Latest Crypto Crash Today
Ethereum price plummeted 14% due to market turbulence, triggering mass liquidations.
DeFi lending platforms saw major whale liquidations as ETH collateral values dropped.
Overall market sentiment is fearful, with ETH facing further potential price declines.
The crypto market is in a state of chaos as Ethereum takes a major hit. In just 24 hours, ETH has dropped over 14% and is now trading around $1,547. This has triggered a wave of liquidations, shaken up major DeFi players, and left traders scrambling.
So what happened? Why is Ethereum crashing so hard, and what does it mean for the rest of the market? Let’s break it down.
Liquidations on the Rise
Ethereum’s plunge has triggered a chain reaction across decentralized finance (DeFi) platforms. One of the biggest incidents happened on the Sky lending platform. According to Maker Vaults explorer DeFi, a major ETH whale lost 67,570 ETH—worth about $106 million—when their collateral ratio fell below the required 150%.
Sky’s automated system kicked in and liquidated the position when the ratio dropped to 144%. In simple terms, as ETH’s price fell, the collateral backing the whale’s loan wasn’t enough anymore. This triggered a forced sell-off to cover the debt.
Another whale, who deposited around 56,995 wrapped ETH—worth roughly $91 million—is also close to being liquidated. Data from CoinGlass shows that nearly $1 billion in crypto positions were wiped out in the past 24 hours, with Ethereum holders being hit the hardest.
ETH Support Levels Under Focus
Technically, Ethereum is in a weak spot. It has dropped below key support levels at $1,650 and $1,620 and is now facing strong resistance near $1,600 and $1,675. Without a solid recovery, ETH could fall further toward the next key support level at $1,420. Right now, buyer interest is low, and technical indicators are pointing to more possible downside unless a strong bounce happens soon.
Market Confidence Drops
It’s not just Ethereum under pressure – Bitcoin has also seen losses, adding to the fear and uncertainty among investors. ETH is now down 68% from its all-time high in 2021, raising concerns that things could get worse if traders don’t step in to strengthen their positions with more collateral.
The crypto market feels unsettled. Ethereum’s steep fall and the massive wave of liquidations have clearly shaken confidence.
Everyone is watching to see if ETH can stabilize and bounce back, but for now, most investors are staying cautious and waiting it out.
Yes 
No 
