Crypto Market Sees $360M Liquidations in 4 Hours as ETH Price Tumbled Below $3,400

• ETH trades near $3,500 after dipping below $3,400 earlier today; Binance market feed flags the breakdown
• Over $362 million in liquidations occurred within four hours amid surging volatility.
• SoftBank’s Nvidia stake sale and U.S. shutdown uncertainty deepened the risk-off sentiment.

The cryptocurrency market witnessed one of its heaviest liquidation waves this quarter, with over $362 million in leveraged positions wiped out within four hours on Wednesday. The move was triggered by a sharp selloff in Ethereum (ETH), which slipped below $3,400 for the first time in November.

Macro Narrative Keeps Risk Tight Even As Shutdown Ends

SoftBank’s decision to sell part of its stake in Nvidia, initially rattled global tech and adjacent crypto assets on Tuesday. The looming U.S. government shutdown vote on Wednesday added further uncertainty, prompting traders to unwind …

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