Just took a look at $ETH , and my first reaction was:

That’s a hard hit—really brutal.

Highest 2789, lowest directly smashed down to 2635, and within 24 hours it’s close to -3%.

In one night, over 150 bucks just vanished.

But the even more wild part is:

OI dropped from 2.31M ETH to 2.297M ETH, and leverage has been steadily pulling back;
Top Trader’s positioning is still 60.6% long-leaning, and the funding rate is only around 0.005%.

So it’s like the price is getting smashed, and people are running—but it hasn’t reached that stage where the whole crowd is completely going crazy short.

ETH is one of those coins that’s especially punchable right now:

When it’s up, people say it’s too expensive,
when it drops, they start panicking again,
and when it finally pulls back, the whole internet starts asking, “Is it still a good time to get in?”

What I care about most right now isn’t how much it will drop.

It’s: in this round, how many people will get shaken out 😂


Drop it in the comments. $ETH #ETH