Major exchange tracking reveals Ethereum has crashed through the $2,800 support level. The asset's currently changing hands at $2,743 USDT after shedding 9.90% over the last day. Bitcoin isn't faring much better—it slipped under $85K and sits at $84,113 USDT following an 8.03% pullback in the same period.

The real carnage? Liquidations hit a staggering $929 million across the past 24 hours. Out of that total, $858 million came from leveraged positions getting wiped out as prices tumbled. This kind of liquidation cascade typically signals overleveraged traders getting caught off-guard by sudden volatility.

Both assets are testing critical psychological levels right now. Whether these prices hold or break further could set the tone for the coming days.