A massive Ethereum liquidation has sent shockwaves through the crypto community. On Sunday evening, a whale holding 67,570 ETH, worth approximately $106 million, was liquidated on MakerDAO after a sudden 10% ETH price crash, according to Lookonchain. This event unfolded as Ethereum plummeted from over $1,800 to around $1,500, amplifying concerns of further downside.
Crypto Market Reacts to Trump Tariffs
The ETH liquidation wasn’t an isolated event. The broader crypto market is reeling from aggressive tariff policies announced by U.S. President Donald Trump, sparking panic among investors already on edge from equity market declines. Bitcoin fell below $78,000, while total crypto market cap shed over 8%, slipping to $2.6 trillion.
The pain was widespread across top altcoins:
- XRP dropped 10% to under $1.90
- BNB slid 5% to $562
- Solana, Dogecoin, and Cardano all fell over 11%
- TRON posted smaller losses at 2%
ETH/BTC Hits Lowest Point Since 2020
The bearishness was especially severe in the ETH/BTC trading pair, which hit 0.021 on April 6, its lowest level since March 2020. This signals a clear weakness in Ethereum’s price relative to Bitcoin, often a red flag for altcoin investors when market sentiment deteriorates.
More Panic Sales — But Some Whales Are Buying the Dip
Lookonchain also reported another investor panic-sold 14,014 ETH, worth about $22 million, underscoring the wave of fear washing over Ethereum holders.
However, not all whales are running. A major entity known as “7 Siblings” reportedly bought 24,817 ETH for $42 million amid the crash, increasing their total ETH holdings to over 1.2 million ETH, currently valued near $1.9 billion.
This whale has been on a buying spree since February 3, accumulating 103,543 ETH for roughly $230 million — but is now sitting on an unrealized loss of $64 million.
According to IntoTheBlock, whales collectively scooped up 130,000 ETH last Thursday after Ethereum dipped below $1,800 in response to Trump’s tariff news.
Outlook: Capitulation or Opportunity?
The Ethereum liquidation event has exposed the fragility in highly-leveraged DeFi positions during high-volatility market conditions. While retail investors panic-sell, some institutional-sized players are treating this crash as an accumulation phase.
With whales buying the dip, the market may be poised for a turnaround — but short-term volatility remains high as traders digest macroeconomic uncertainty and political risk.
