Ethereum Drives $197M Crypto Liquidation Surge Amid Regulatory Uncertainty in DC

Ethereum Price Drop: Ethereum has fallen to around $2,900, confirming a technical breakdown after losing support at $3,170-$3,200, with a decline of over 10.9% in the last week.

Market Sentiment: The overall market sentiment remains bearish, with Ethereum and other cryptocurrencies like Bitcoin and Dogecoin experiencing declines, while liquidity across the market totaled approximately $197.4 million in the past 24 hours.

Regulatory Uncertainty: Regulatory uncertainty continues to pressure the cryptocurrency market, with discussions around the CLARITY Act highlighting the need for clearer legislation to protect the digital asset industry.

Trading Trends: Retail sentiment around major cryptocurrencies remains bearish, with traders expressing caution and expecting most positions to be used as opportunities to sell rather than to turn around.