Ethereum Reaches Record High As Bitcoin Suffers Flash Crash, Liquidations Surge

Ethereum’s price soared to a new all-time high of $4,946, surpassing its 2021 benchmark, while Bitcoin experienced a flash crash, triggering widespread liquidations exceeding $800 million. This move caused the Crypto Fear and Greed Index to dip below 50, signaling a shift in investor sentiment. The surge for Ethereum coincides with expanding decentralized finance (DeFi) applications and growing interest from institutional investors. 24-hour liquidations hit a staggering $800 million as various cryptocurrencies experienced fluctuations.