#数字资产市场观察 Ethereum continues to decline, and the long positions at two price levels can't hold on anymore.

I checked the on-chain data in the early morning, and the liquidation amount in the past 24 hours reached $970 million, affecting 260,000 trading accounts. Behind this number lies the real money of countless people.

Looking back at yesterday's performance: Around 9 AM, ETH suddenly plummeted from the 3030 level, dropping nearly 200 points in a one-sided decline. Many might have thought the rebound wasn't over yet, but that big bearish candle educated them otherwise. By the evening, as the price hovered around 2820, another batch of bottom-fishing capital entered the market—they were betting on a rebound from the bottom.

But the key signal has actually appeared: when Ethereum effectively breaks below 2880, the support for this round of technical rebound has already failed. If this signal had been noticed at that time and the strategy adjusted accordingly, the risk of a second drop of 100 points at 11 PM could have been completely avoided.

The current situation is that friends who are in long positions are divided into two groups: one group has a cost around the high level of 3030, and the other around the relatively low level of 2820. The latter can consider reducing positions and leaving the market if there is a rebound opportunity; don’t bet on continuation anymore. The truly tricky part is the former group — the positions stuck at 3030.

After the market trend turns bearish, your position is your lifeline. Different entry prices and different leverage multiples lead to huge differences in handling. Holding on may face deeper losses, while cutting losses is indeed hard to do.

The essence of breaking free from a loss is not relying on luck for a rebound, but rather formulating a strict defense or breakthrough plan based on your actual cost, position structure, and the current market forces comparison. Everyone's situation is different, and there is no one-size-fits-all solution. However, one thing is certain: the market will not wait for anyone, and the sooner you develop a response strategy, the more proactive you will be.