$ETH has returned to the pre-liberation period. In this wave, Ethereum's liquidation was 204 million, with the long positions occupying 183 million. Bitcoin has also fallen below 110,000, and the market has completely reverted to the scene before Powell's speech.

In fact, this wave can be seen as a healthy correction, after all, it had surged nearly 800 points to break the historical high. In other words, it has absorbed almost half a month's volume; how could it not fall? Overall, a correction is normal; the market needs a buffer phase. It is unrealistic to keep climbing up indefinitely.

Now back at the initial position, I still remain bullish on $ETH . The liquidation chart below shows that the long positions are nearly cleared out, and further drops would not be very meaningful. Conversely, the short positions are visibly piling up.

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