$ETH just broke through the 1700 mark directly, a typical short-term driven market, completing the rally in a short time without long-term bottom accumulation.

The previous post mentioned breaking through 1665-1670, turning short-term strength. This round completed a dip near 1550, then oscillated between 1580-1650 for a long time, with volatility narrowing, and the market entering an energy compression phase.

When the price broke through 1650, there was a concentration of short positions above, with a dense stop-loss zone at the previous highs, forcing passive stop-losses on short capital. Once broken, short positions stop out, creating passive buying pressure.

The key to accelerating the rally is short sellers buying back to stop losses, with leveraged liquidations triggering chain buy orders, and market makers passively hedging by buying. It's not driven by buying, but by shorts being squeezed out.

ETH's straight-line rally is essentially a liquidity squeeze acceleration triggered by the breakout of the consolidation range, causing short stop-losses and leverage covering, rather than a slow uptrend driven by natural momentum.

Subsequently, it should oscillate between 1700-1710, digesting profit-taking, and waiting for the next direction choice.

#Circle股价重挫17%