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"When the Wall Street giants start doing square dancing, you think it's lively, but in fact, they're clearing the field!" - This is a message from Qing Yao to all retail investors still fantasizing about Ethereum's rise.
The truth: The 'pig-killing plate' behind the massive trading volume of $118 billion

CME Ethereum futures saw a monthly transaction volume of $118 billion. On the surface, it looks like institutions are rushing in, but in reality, it's a meticulously designed 'harvesting scheme'! The Chicago Mercantile Exchange, as a 'legal casino' in traditional finance, has always been a tool for Wall Street to manipulate coin prices. The July data hitting a record high just shows that large funds are positioning hedges on ETH - just like the script where Bitcoin futures surged in January 2024 and BTC dropped by 32%!
Qing Yao's Viewpoint:
This time, the short layout is more concealed! Glassnode data shows that as ETH open contracts soar, the long-short leverage ratio has suddenly tilted towards shorts. More critically, CME's ETH futures are cash-settled, allowing large institutions to profit by crashing the spot market, while retail investors' contract positions will become 'fuel'.
History Repeats: The Ultimate Scenario for ETH in 2025
Short-term: If ETH cannot hold the critical level of $4800, the CME shorts will launch a 'lightning strike', quickly driving it down to the support zone of $4500-4600.
Mid-term: BlackRock has secretly increased its holdings of 320,000 ETH. Once the SEC approves the spot ETF, the massive short positions at CME will instantly turn to long, triggering a 'short squeeze', aiming directly at $6000!
Hidden Risk:
Vitalik has recently frequently mentioned the 'Ethereum L3 ecological bottleneck'. If the technical aspect coincides with negative news, the drop will far exceed market expectations!
Retail Investor Survival Guide
For leverage exceeding 5 times: The liquidation price across the network is at $5500, set your stop-loss immediately! Don't be a 'martyr'!
Spot traders: Seize the opportunity of the market crash, you can gradually buy below $4500.
Time Node: August 20th is the CME options expiration date, volatility that day may exceed 15%!