The liquidation amount of ETH in the last 24 hours reached 140 million USD, with over 160,000 people liquidated globally. Data shows that in the past 24 hours, a total of 165,446 people were liquidated in the global cryptocurrency market, with a total liquidation amount of up to 625 million USD. Among them, the liquidation situation of Ethereum is particularly significant.
The largest single liquidation occurred in Binance's ETH contract, worth 4.3287 million USD. Current market short pressure is significant, be cautious of volatility risks.
Deep Analysis of ETH's Surge
Core Driving Factors
Large-scale short liquidations squeezing Short Squeeze
Within 24 hours, ETH short liquidations reached 110 million USD, accounting for 85% of the total liquidation amount, while long positions only accounted for 20.5 million. Shorts were forced to cover, pushing prices higher.
A single liquidation of 4.32 million USD occurred on Binance, indicating a concentrated defeat of leveraged shorts.
Market sentiment reversed after being extremely bearish.
The proportion of short positions in liquidation data has remained high, such as 68.13 million in short liquidations vs. 11.31 million in long liquidations within 12 hours, leading to a violent rebound after excessive shorting in the market.
$BTC Leads the Surge
Bitcoin broke through a key resistance level, causing capital to overflow to mainstream coins like ETH and SOL, forming a 'BTC-ETH Linked Bull Market'.
Funding Rates and Long-Short Ratios Adjusted
Previously negative funding rates (shorts paid) attracted buying pressure, and after the long-short ratio became unbalanced, it quickly corrected, triggering a rise.
Key Data Evidence
In the total liquidation amount of 636 million globally, ETH contributed over 20% or 130 million, with shorts suffering heavily.
In 1 hour, the percentage of short liquidations was 87% (1.237 million/1.412 million), indicating intense short squeezing in the short term.
Future Focus Points
Whether shorts will continue to cover: If funding rates turn positive, it may attract a new round of short selling.
BTC Trend: If Bitcoin corrects, ETH may face selling pressure from profit-taking.
Summary: This is a violent rebound led by shorts being squeezed and BTC, but beware of high volatility risks!
BTC Resistance Levels
95,000-96,000, psychological barrier + previous high dense trading area. If broken, it needs to be confirmed with increased volume. 100,000 USD is a long-term psychological resistance, and breaking it will trigger FOMO sentiment.
Support Levels
90,000-92,000 short-term moving averages like the 30-day moving average, and the previous breakout platform.
85,000 strong support: corresponding to the low point of the 2024 bull market correction or institutional cost area.
ETH Resistance Levels
1,820-1,850 round numbers and recent highs, pay attention to 1,850 after breaking.
1,880-1,900 previous dense trading area, increased selling pressure.
Support Levels
1,750-1,760 recent low points of fluctuation, short-term bullish defense area.
1,700-1,720 strong support, breaking below will trigger a deeper correction.
