Recently, the market has experienced drastic fluctuations, with prices dropping over 77% within five hours. However, the contract open interest has not decreased but rather increased, highlighting the intensification of the long-short battle. Market sentiment has rapidly shifted from euphoria to panic in a short period of time, with high-leverage positions facing concentrated liquidation, and liquidity risks are significantly exposed. Current trading volume remains among the top on the platform, and the funding rate continues to operate at a high level, reflecting an expansion of market risk exposure, which easily triggers a cascade of liquidation risks. Investors need to be cautious of liquidity traps and avoid blindly chasing highs and lows, suggesting adjustments to trading strategies with a focus on risk management.

The current price is 1.0005, with a short-term support level below at 0.8555 (down 12.37% from the 1-hour benchmark price), and a key resistance level at 1.4392 (up 47.41% from the 1-hour benchmark price).

The idea is to continue shorting after a rebound $ETH #加密市场观察