Ethereum’s Price Plummets Amidst Options Expiration & Hedge Fund Liquidations

Ethereum prices have witnessed a significant downturn in recent days, falling below the $2,000 mark after experiencing volatility following last Friday’s options expiry. The market reacted negatively to nearly $2.13 Billion in ETH options expiring on March 28th. A substantial number of options contracts were locked in, with analysts estimating around 301,000 ETH worth about $574.3 Million set for expiration. The current price action has triggered a bear market reaction, pushing ETH to fall under the crucial level of $1,900. Previously, this level had served as a support zone, but now faces pressure from declining liquidations and bearish sentiment.