In the past 24 hours, the market has experienced a dramatic reversal, with over 200,000 people globally facing liquidation, and short sellers suffering heavily, becoming the "fuel" that drives the market upward. According to statistics, the total amount of liquidation in a single day reached as high as 679 million USD, with BTC and ETH short sellers being the most affected. The largest single liquidation occurred on the Binance BTCUSDT trading pair, amounting to 11.9692 million USD, highlighting the intensity of the bullish momentum in the market.
Only when ETH is in a bull market is it truly the spring for altcoins.
When BTC rises, altcoins may remain indifferent; but as long as ETH gains momentum, sectors like DeFi, Meme, and AI often take off collectively. The initiation of ETH signifies a complete awakening of the on-chain ecosystem.
