Ethereum Price Collapses: Can Leveraged Traders Help Trigger a Rebound?

A wave of panic selling swept the cryptocurrency market Friday following Israel’s surprise military strike on Iran, sending Ethereum prices plummeting below crucial support levels. Binance data reveals ETH plunged below $2,600, triggering massive liquidations as traders holding leveraged long bets near $2,800 in anticipation of a price surge were caught off guard by the sudden drop.