Between 17:30 and 17:45 on March 2, 2026 (UTC), the price of ETH dropped sharply from 2058.07 USDT to 2026.2 USDT, with a short-term return of -1.23% and a volatility of 1.55%. Short-term fluctuations intensified significantly, market attention increased, and liquidity became tight.
The main driver of this movement was leveraged long positions being liquidated en masse, with some contract longs triggering stop-loss orders, causing the price to plummet rapidly. Additionally, key daily support levels were quickly broken, accelerating technical decline and further triggering systemic selling pressure.
On-chain data shows that within 15 minutes, ETH net outflows reached 13,740 tokens, as multiple whale addresses shifted funds into stablecoins during the volatility, creating liquidity pressure. Moreover, overall market sentiment turned cautious, with open interest in short positions on derivatives markets expanding simultaneously, leading to cross-market resonance and further increasing volatility.
Short-term risks remain high. Future focus should be on the 2020 USDT support level, changes in on-chain fund flows, and macroeconomic news. Investors should be alert to rapid pullbacks and chain reaction risks in derivatives markets, and continuously monitor real-time prices and abnormal on-chain activities.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Whales Buy the Dip, Eyes on $1,900
_ETH whales log second-largest accumulation inflow this cycle as traders call weekend chop near $2,000 before a potential $1,900 dip next week._
Ethereum is sitting near the $2,000 mark. Whales are not waiting. On-chain data shows large holders ramping up ETH purchases at a rate unseen since the cu
LiveBTCNews1h ago
Base58 Labs’ BASIS 2026 Blueprint Forges a New Standard for BTC, ETH, SOL & PAXG
[PRESS RELEASE – London, UK, March 17th, 2026]
New roadmap positions BASIS as an institutional-grade digital asset management platform built for macro volatility, tokenized safe-haven demand, and frictionless Web3 onboarding.
Base58 Labs today unveiled the BASIS 2026 Technical Blueprint &
CryptoPotato1h ago
ETH Dips Under $2K as Traders Signal Further Downside
Ether edged below the $2,000 mark on Friday, signaling another potential leg lower for the leading smart contract token. Trading around $1,975, ETH slipped roughly 5% over the past 24 hours, according to TradingView data. The move came as traders weighed weak near-term demand against a backdrop of o
CryptoBreaking4h ago
Ethereum Price Prediction: Where Is ETH Headed If $2K Support Is Lost for Good?
Ethereum’s recovery attempt is losing momentum again. The price is slipping back after failing to sustain strength near the key $2.4k resistance zone. The broader context remains a market trying to stabilize after a sharp downtrend, but repeated rejections on rallies and growing concerns over the
CryptoPotato4h ago
