Ether Plunges 3.1% in One Hour Amid Heavy Long Liquidations

Ethereum's native token, Ether (ETH), experienced a sharp decline on October 6, 2026. The price dropped from $2,694 to $2,611 within just one hour, marking a 3.09% decrease. This downturn was part of a broader 24-hour loss of 3.51%. The data was collected from Binance’s spot ETH/USDT market.

The sudden drop was accompanied by significant liquidations of long positions. Across Binance, Bybit, and OKX, long Ether liquidations reached $62.44 million in that one-hour span. In contrast, short liquidations were relatively minor, totaling $290,000.

The price decline highlights the volatility and risks associated with leveraged trading in the cryptocurrency market. Ether's sharp fall underscores the potential for sudden shifts in asset values, particularly when leveraged positions are involved.