The cryptocurrency market is seeing significant price fluctuations, resulting in billions of dollars in liquidations. Whales, or large investors, are focusing on Ethereum (ETH) and have accumulated millions of dollars worth of the cryptocurrency in the past 24 hours. One whale even borrowed $28.3 million USDT to purchase 10,000 ETH when the price was near $2,817. However, there is a possibility that ETH could decline further if it does not reclaim the $2,800 level. Additionally, Ether is still trading below the 200 Exponential Moving Average (EMA) on the daily timeframe, suggesting that the asset is still in a downtrend.



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