$ETH Network Client Vulnerability: A software vulnerability in the Prysm consensus client has resulted in validator losses exceeding $1 million (382 ETH), highlighting the inherent risks of client centralization within the Ethereum network.

High Leverage Levels: Ethereum's estimated leverage ratio has reached a historical high of 0.579, indicating excessive leverage usage in the market. This situation increases sensitivity to rapid price fluctuations and the potential chain liquidations of long positions.

Profit-Taking Pressure and Options Expiry: The rise in unrealized profits (NUPL at 0.296) may trigger sell-offs. Additionally, the upcoming expiry of $3.9 billion ETH options on December 26 may lead to increased market volatility.

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