ETH contract market, $234 million evaporated in 24 hours!

This isn’t just a normal pullback. Just look at the liquidation heatmap—the entire market is a high-speed meat grinder.

**That glaring yellow zone below ($2952-$3000)**—this is the bulls’ Waterloo. Once the price drops below this band, heaps of leveraged long positions will be forcibly liquidated. But here’s the twist: these mass liquidations often force shorts to cover, potentially triggering a brief technical rebound. Want to bottom fish? You’re betting there’ll be a sudden short squeeze here.

**That blood-red zone above ($3300-$3340)**—the death trap for the bears. If the price surges to this area, short sellers will be forcibly liquidated, and the resulting buy pressure could push prices even higher. But if the breakout fails, the drop will be even more violent than the previous rally.

**Current situation**: $234 million in daily liquidations shows the market is full of high-leverage gamblers. The price is whipsawing around critical levels, and any touch of these “magnet waterlines” could trigger a chain reaction.

The bright colors on the liquidation heatmap aren’t buy signals—they’re danger warnings, marking where the bodies are piled up and where the next massacre might erupt.