Ether Drop Below $2,356 Could Trigger $1.27B in Long Liquidations

The figure matters less as a forecast than as a map of where leverage is stacked: a single price level now carries over a billion dollars of forced-selling potential, which turns a modest dip into a self-reinforcing move. That asymmetry cuts both ways, since liquidation clusters tend to magnetize price toward them before they resolve. The open question is whether this concentration reflects genuine conviction being financed, or simply thin positioning that will clear once tested.