Ethereum price crash wipes out $199million of long positions, is this the shakeout before the breakout?
Ethereum price has been under heavy pressure, with over $199 million in long positions liquidated in a single day. The drop rattled traders, but many are now asking if this shakeout could be the setup for Ethereum’s next big breakout. In the meantime, Remittix is gaining traction due to their expansion and potential in the wider crypto market.
Remittix already generated over $20.5 million by the sale of over 611 million tokens at a price of $0.0969 per token, an indication of increasing investor demand despite the turmoil in the market currently experienced by Ethereum.
Ethereum price struggles after steep liquidations
Source: Ali Martinez
Ethereum is trading at around $4,200 after a significant drop in price off the 4,800 level. The relocation resulted in clearing of long positions and more confusion among traders. Whales bought over 400,000 ETH amid the dip, according to analyst Ali Martinez, which is an indication of their confidence in the future of Ethereum. Martinez identified the support levels of $4,000 and $3,700, whereas the main resistance area lies at $4,800, which must be breached to put in place a more bullish trend.
Nevertheless, Ethereum price is still enjoying favorable flow data even after the setback. The recent outflow of exchange funds in the amount of $18.59 million decreased selling pressure, and this is an indication that many investors are holding or staking their ETH rather than selling it. The number of technical support around the 20-day EMA of $4,138 leave bulls with a reason to be optimistic. Even so, Ethereum might be in a consolidation period unless it is pushed higher above the $4,800 resistance.
Why Remittix could benefit from the market shakeout
While Ethereum price dominates headlines, Remittix is quietly building momentum as an innovative DeFi payments project. Investors see it as an alternative that could thrive in 2025, especially if established assets face more volatility. With BitMart announcing its listing for Remittix after the $20 million milestone, attention is now turning to the project’s next steps, including another exchange listing when $22 million is raised and an upcoming beta wallet in September. On top of that, Remittix is running a $250K giveaway to reward its growing community.
Here is why Remittix is gaining so much traction:
- Real-time FX conversion with transparent rates
- First CEX listing confirmed on BitMart, with another coming soon at $22M
- $250K giveaway boosting community engagement and visibility
- Focused on real-world payments and global banking integration
- Deflationary tokenomics designed to reward long-term holders
Overall, Ethereum price may remain volatile in the short term, especially after $199 million in longs were liquidated, but experts like Ali Martinez suggest this could be the shakeout before the next rally. Still, investors are increasingly looking at alternatives like Remittix, which offers real-world utility and steady growth potential.
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
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