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Ethereum (ETH) Eyes Rebound as BitMine Accumulates

Ethereum (ETH) Eyes Rebound as BitMine Accumulates

Ethereum (ETH) is showing signs of a potential rebound after a recent market downturn that saw it lose ground around the $4,450-$4,500 level. The cryptocurrency is currently trying to hold a crucial support level, and analysts are suggesting a bounce could be on the horizon as companies with crypto treasuries continue to invest in ETH. Ethereum Attempts Recovery Amid $4,100 Test Earlier this week, Ethereum’s price experienced a sharp drop of approximately 7% during a significant liquidation event. Data from CoinGlass indicated over $1.7 billion in leveraged positions were liquidated across the crypto market, with ETH leading the losses at nearly $500 million, followed by Bitcoin at $284 million. This pushed Ethereum's price down to the $4,100 support level for the first time since August, reaching a one-month low of $4,077. Daan Crypto Trades pointed out that this event represented the largest nominal Ethereum liquidation since 2021, when the cryptocurrency's price plummeted arou…

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