In the past hour, the entire network has been liquidated for $85.6 million, and long orders have been liquidated for $82.79 million. The recent launch of Ethereum has not risen but fallen, indicating that the main players are anti-human, using bullish sentiment to kill longs in the short term. The recent plunge in US stocks seems to have also prompted the crypto market to have a potential risk of a correction. Let's take a look at this year's contract holdings. In 2024, the number of open contracts for perpetual futures will be between 220,000 and 240,000 BTC. This value usually drops rapidly during deleveraging events and increases during periods of strong speculation. Recently, the number of open contracts has risen to the range of 260,000 to 280,000 BTC, indicating that speculative interest has been high since the beginning of June. The recent high position of contracts also indicates that the market will sooner or later have a short-term decline and wash. The liquidation of high-leverage contracts is also a common way for the main players to make money. It also shows that the liquidity accumulated by long orders a while ago is being harvested by the main players at this moment.#BTC#ETH #etf以太坊