Good morning everyone! Opening the market overview, ETH is now hovering around $1,729 (as of June 18) — are you watching the charts? Does this level look a bit familiar?

Surface calm, underlying currents surging

In 24 hours, it dropped 3.65%, not a waterfall but enough to wake people up. Interestingly, out of the $401 million liquidated across the entire network, ETH accounted for $106 million, with longs more than double the shorts — friends chasing longs are getting another lesson.

On the surface, it's volatility; in reality, it's a liquidation game.

· Upward: $1853 has $833 million in short positions waiting to be liquidated
· Downward: $1679 has over $544 million in positions on the line

What signals do these data points reveal?

Funding rates are nearly zero (8-hour average 0.0001%), and the three major exchanges even have negative rates — the market is so cold that no one dares to leverage. Meanwhile, whales are quietly accumulating, increasing their ETH holdings by $950 million.

The positive news is that ETFs have finally stopped long-term outflows, returning $22.5 million; the concern is that the price is still below all moving averages (20-day moving average at $1,789).

Risks and bottom line

Today’s FOMC meeting is gripping the global nerves; the news is the biggest variable.
The current core range is $1679–$1853, whichever side hits first, the other side’s positions will suffer.

Specific trading ideas

· Short: Near $1780–$1800 try shorting, with a stop-loss above $1830
· Long: Lightly buy back around $1700, with a stop-loss below $1670
· Position: Don’t go all-in in this market, try about 5% positions to test the waters

Finally, a question for everyone

Are you currently holding a cash position watching the show, or have you already placed your orders?
Share your levels in the comments, let’s watch the market together! #我的Gate交易时刻 $ETH