$224M in ETH Liquidations as Price Crashes to $1,800

[lingriiddd]

ETH options put-to-call volume premium at Deribit. Source: laevitas.ch

Ethereum (ETH) plunged to $1,800 this week, triggering $224 million in leveraged long liquidations over a 48-hour stretch. The 9% daily drop — and 14% slide over the past 10 days — has left derivatives traders scrambling for protection. Options data from Deribit shows the put-to-call volume ratio jumping to 2.2x, signaling a sharp increase in downside hedging as investors brace for more volatility.

The 30-day options delta skew climbed to 18%, indicating puts are trading at a premium and reflecting defensive positioning across the market. With ETH still down roughly 63% from its all-time high, confidence appears fragile. For now, the $1,800 level is acting as psychological support — but derivatives markets suggest traders aren’t convinced it will hold.

[cryptohog]

ethereum trying to decouple but bitcoin said absolutely not