ETH has entered the "high-density liquidation trigger zone," and the bulls and bears are on the verge of a showdown.

Latest data shows:

If the price breaks above $2,424, the total liquidation of short positions on major exchanges will reach approximately $761 million, indicating clear short squeeze momentum.

If the price drops below $2,211, the total liquidation strength will be about $689 million, potentially triggering a new round of downward panic selling.

From a structural perspective, this is a typical "bilateral squeeze market"—
Shorts' stop-loss orders are stacked above, while longs' leverage is supported below. Once either side is broken, chain reactions of liquidation may be triggered.
It is worth noting that the liquidation scales on both sides are relatively close, indicating that the current market has not formed a one-sided consensus but is in a high divergence stage.
In this environment, the market is often not short of volatility, only short of a "trigger point."
Who gets triggered first will lead the next trend.
Follow me for ongoing analysis of liquidation maps and the underlying logic behind market explosive moves.