Ethereum (ETH) joined the broader market sell-off late Friday, plunging 13.7% in 24 hours to around $3,797 at the time of writing, according to CoinMarketCap. The move came amid a wave of liquidations across the crypto market, where over $5 billion in leveraged positions were wiped out within a single day.
ETH’s market cap fell to $453.8 billion, down 13.8%, while trading volume jumped 53.6% to $72.79 billion, signaling panic-driven activity as investors scrambled to exit positions. The price collapse followed Bitcoin’s drop below $107,000, intensifying fear across altcoins and triggering further automated sell-offs.
Despite the sharp correction, Ethereum’s fundamentals remain strong, with rising staking participation and growing institutional inflows into ETH-based products. Analysts view the $3,600–$3,700 range as short-term support, with potential recovery dependent on whether Bitcoin can stabilize above the $110,000 mark.
If bearish momentum continues, ETH risks retesting the $3,400 zone, last seen in late August, before any meaningful rebound can take shape.