Ether Tests $2,300 Support as Derivatives Liquidations Reach $44 Million

Ether traded near $2,320 and tested support at $2,300 following approximately $44 million in crypto derivatives liquidations over a 24-hour period. Long positions accounted for about 74%, or $32.6 million, of the total losses. Downward pressure was intensified by a single $6.97 million Ether perpetual futures long position liquidated on Binance at $2,322 on October 25. Broader sentiment was further pressured by $220.7 million in cumulative net outflows from U.S. spot Ethereum ETFs across five consecutive sessions ahead of the Federal Reserve's policy meeting.