Massive Ethereum Liquidations Trigger Price Drop by 20%

The cryptocurrency market experienced a significant downturn after the recent stock market crash, causing Bitcoin to plunge below $75,000. Ethereum (ETH), which saw a price drop of over $1,500 following this decline, is facing further pressure from large-scale liquidations. 20% of its trading volume has been affected by these events, indicating an escalating bearish trend. Whale activity has also played a significant role in this downturn, with many of them engaging in massive sell-offs and liquidations, adding to the volatility of the market.