Ether Slides Below $2,125 Triggering Massive Cascade of Leveraged Long Liquidations

Ether dropped sharply to hit an intraday low of $2,003.70 after breaking a key support band, triggering roughly $118 million in leveraged long liquidations. On November 9, a sudden flash drop sent prices tumbling from $2,158.60 to $2,058.50 in a single minute as support between $2,125 and $2,150 failed. The event fully wiped out a whale holding 56,667 ETH across linked wallets, resulting in tens of millions of dollars in realized losses. Derivative data subsequently revealed persistent downside vulnerability, with long liquidation exposure heavily outweighing shorts.