$ETH's futures liquidity analysis is really impossible...
It can be clearly seen that this market is completely different from BTC, not led by futures, but purely driven by spot!
At this time, it is really not recommended to stare at the liquidation liquidity of ETH to make transactions, hold your spot, and wait for the trend structure to change!
The spot-led market does not look at whether there is fuel, whether there is a bear to take over, the spot demand is in a state of continuous buying, and the liquidity in the futures market has no reference...
Therefore, looking at ETH now, as long as there is no lower low on any daily level, then the trend is not over at all!
By the way, not even the first daily pullback has yet to appear... So judging the lower lows is at least a week or 10 days from now...
ETH Futures Market Liquidity Distribution Update:
The recent ETH market has taught us a lesson, that is, even if there is no short liquidity in the futures market, the liquidity gap can still be overcome by relying on spot!
The liquidity vacuum area where the big arrow in the chart is located represents that all ETH bears in the past month have not had such a high liquidation price, and the price has still achieved a partial breakthrough, which means that the current buying spot is dominant!
In the short term, there is also a short liquidation zone that has been formed since the beginning of July, so if the price continues to accelerate at a small level, then the target will be between 3620~3650.
In stark contrast to BTC's formation, ETH's rally was not futures-led, but spot-driven, and BTC lost its original strong momentum after liquidating all short liquidity below 123k.
Therefore, spot demand is always the strongest bulls!
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