If the price of ETH can really break through the hurdle of $3595, those who are shorting (betting that ETH will fall) on major exchanges will be in trouble, with the total amount forced to close positions reaching $23.56 billion! This is no small amount, equivalent to over 100 billion RMB!

On the flip side, if ETH can't hold on and falls below $3283, those who were bullish (going long) will start crying, as the total amount they would face in liquidation would also be $9.56 billion. Although it's a bit less than the shorts, it's still several hundred billion RMB!

In short, the current price of ETH is like walking on a tightrope; a slight upward move could trigger liquidations for the shorts, and a slight downward move could spell disaster for the longs. Those trading contracts on the exchanges are probably all anxiously watching the market right now. If you ask me, in this kind of market, it's best not to recklessly increase leverage, or else with one wrong move, you'll be educated by the market on how to behave!$ETH