🔥 At 02:17 UTC, a cascade of $874 million in Ethereum longs evaporated from the order book, leaving the market gasping as the price hovered at $2,669.

📊 Coinglass’s heatmap lit up with a $874 M long trapdoor below $2,206 and a $403 M short cliff above $2,412, while ETH’s price clung to $2,669, its 24‑hour volume stalled at $769 M, RSI lingered at 46.7, and a bearish MACD crossover pushed the Bollinger Bands toward the mid‑range at 36.3%. Meanwhile, futures Open Interest remains massive at $6.12 B, funding ticked up to +0.0032% (longs paying shorts), the long‑to‑short ratio surged to 2.74 with 73.3% longs, and top traders stayed net long at 62.8%, all under the watchful eyes of smart wallets eyeing the #ETH #Futures #Liquidations battlefield.

💡 Yet the bullish funding rate tells a different story: longs are paying premiums, implying confidence that the trapdoor will snap shut before the short cliff collapses.

❓ Will the next wave of $1 billion‑plus liquidations shove ETH back under $2