ETH 15-Minute Drop of 1.25%: Leveraged Liquidations and On-Chain Fund Outflows Drive Short-Term Selling Pressure

From 14:30 to 14:45 UTC on 2026-03-03, ETH experienced a rapid decline, with a 15-minute return of -1.25%. The price fluctuated between 1934.86 and 1977.42 USDT, with an amplitude of 2.17%. Short-term volatility increased significantly, market attention heightened, and trading volume expanded markedly compared to the previous period.
The main driver of this movement was concentrated liquidation of leveraged positions. Some high-leverage longs were forced to liquidate after breaking below key support levels, releasing short-term selling pressure. On-chain data shows large sums of funds transferred out from multiple addresses within a short period, with total outflows significantly higher than similar periods.
Additionally, market sentiment suddenly cooled, with long-term confidence waning. The number of active on-chain wallets shrank simultaneously. Coupled with volatility in the derivatives market, some trading platforms experienced momentary liquidity gaps in their order books, exacerbating the short-term decline. Whale deleveraging behavior, combined with macro factors (such as the short-term rally of the US dollar index and increased volatility in global risk assets), amplified market fluctuations.
Currently, ETH faces increased short-term volatility risk. Key areas to monitor include the support level around 1,930 USDT, on-chain fund flow indicators, and changes in the leverage ratio of long positions. Short-term risks remain, and users are advised to stay alert to real-time market conditions and prevent further volatility shocks caused by abnormal movements.