$4.6B in short liquidations if $ETH pumps 20%.

$4.58B in long liquidations if $ETH dumps 20%.

Even after a ~60% drop from the top, traders are still heavily positioned on the long side — leverage hasn’t cooled off.

Market is crowded, volatile, and ready to punish both sides.

$ETH

ETHUSDT

Διην.

1,823.02

-3.25%

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