The recent fall of ETH is quite severe. In just 151 minutes, it plummeted from $3447 to $3223, a drop of 6.35%, and is now struggling around $3244.
What's going on? Two factors are at play:
**On-chain end**: Institutional large holders played it high with leverage. When the price hits the support level, high leverage liquidations trigger a chain reaction, causing a bunch of people to be forced to sell, and the sell orders are instantly dumped.
**Macro Side**: The U.S. government is shut down, and there are no CPI and employment data released. The market is confused about the subsequent int
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