Ethereum's price has dropped over 5% in the past 24 hours, falling to around $1,900 amid macroeconomic challenges, particularly due to President Trump's recent announcement of a 25% tariff on imported cars and trucks, set to begin on April 3. This decision has created investor unease, reminiscent of past tariff impacts that saw ETH plunge from $3,400 to $2,100 in just 72 hours. Additionally, massive long liquidations in the crypto market have exacerbated the downturn, with over $97 million in ETH long positions liquidated, accounting for 91% of total market liquidations. The bearish market technicals reveal a bear flag pattern suggesting continued declines, with ETH having already fallen over 50% from its recent high of $4,100 in December 2024. As traders seek safer assets, ETH's current trajectory raises concerns about a possible further decline towards $1,200 if the market sentiment does not improve.

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