ETH drops 1.13% in 15 minutes: Large holder sell-off and liquidity plunge trigger waterfall decline

On March 10, 2026, from 13:30 to 13:45 (UTC), ETH price briefly dropped by 1.13%, with the trading range between 2024.47 and 2057.47 USDT, a volatility of 1.61%. Market fluctuations significantly intensified during this period, but major cryptocurrencies did not show synchronized large movements. Trading activity around ETH increased, with investor attention focused.

The main drivers of this movement were large on-chain wallet sell-offs and a short-term decline in exchange liquidity. Data tracking shows that between 13:30 and 13:45, large transactions exceeding 1,000 ETH surged to 5, a roughly 40% increase compared to the previous 30 minutes. A total of 5,200 ETH was transferred to trading platforms, quickly releasing selling pressure. Meanwhile, liquidity on decentralized and centralized exchanges for ETH decreased by 8%, with concentrated sell orders triggering a lack of buy-side support, amplifying the decline.

Additionally, some high-frequency trading bots and quantitative funds accelerated selling during the volatility, with arbitrage and stop-loss strategies triggering chain reactions that increased trading frequency, creating a “waterfall” short-term fluctuation. The derivatives market saw about 2,000 ETH in long leveraged positions forced to liquidate, further strengthening spot market selling pressure. Although there were no major negative macro or industry news, multiple trading behaviors resonated to amplify this downward move.

In the current environment, shrinking liquidity combined with large fund movements increases short-term volatility risks. It is recommended to closely monitor large on-chain ETH transfers, liquidity pool changes, derivatives market liquidations, and key market indicators (support and resistance levels). Be alert to sudden deep drops and exercise caution in holdings. Stay tuned for more market analysis.