Ethereum price fell below $ 4,000 level for the first time since October 28
The price of Ether, the second-largest cryptocurrency, has dropped below the psychologically important $4,000 level for the first time since Oct. 28.
It is currently trading at $ 3,969 on the Bitstamp exchange.
Ether is now down 17.44% from its all-time high of $4,878 that was reached just eight days ago.
Meanwhile, Bitcoin (BTC) is currently trading below the $ 57,000 level, pushing the rest of the cryptocurrency market considerably lower. The crypto king is struggling to regain bullish momentum after hitting its lifetime peak of $69,044 on Nov. 10.
Solana (SOL) and Shiba Inu (SHIB) are the biggest laggards among the top altcoins, losing 12% and 15% respectively in the last 24 hours.
Bitcoin and Ether are both down roughly 5%.
According to data from Coinglass, $ 271 million worth of crypto has been liquidated in the past four hours on major exchanges.
