Following a recent pullback, Ethereum, the leading altcoin, appears to have entered a bearish state, with the asset constantly dropping towards the $4,000 price mark. As the broader crypto market faced a significant downswing on Monday, ETH’s sudden decline has led to the liquidation of several long positions.
In the meantime, Alphractal revealed that Ethereum is yet to witness a significant deleveraging, as well as BTC, which could open the door for extended liquidations in the upcoming days. Presently, speculations are whether this eradication might impact the next phase of the digital asset cycle.
