Liquidation Map on $ETH Is Tightly Coiled

• $4.6B in short liquidations if $ETH pumps 20%
• $4.58B in long liquidations if Ethereum drops 20%
That’s nearly symmetrical pressure on both sides.
What stands out?
Even after a ~60% drawdown from the peak, long positioning remains aggressive. That means leverage hasn’t fully reset conviction is still elevated.
This is a classic compression setup.
When liquidation clusters are balanced like this, volatility expansion becomes inevitable.
Whichever side breaks first likely triggers a cascade.
Positioning is crowded. Risk management matters more than bias.

$ETH ‌#ETH