A clear view of the liquidation heatmap reveals the clues—ETH's liquidation zone is much denser and deeper in color than BTC. What does this indicate? The current contract market activity for ETH is truly far surpassing that of Bitcoin, with fierce battles between bulls and bears at key price levels.

As the leading and bellwether altcoin, ETH's upcoming trend is crucial. Whether it can stabilize or break through will directly determine whether the entire blue-chip sector can continue its rebound. In other words, the more aggressive ETH performs, the higher the probability of a broader altcoin recovery. Conversely, the less it performs, the lower the chances.