Recently, ETH's performance has been quite dramatic. Last night, within just a few hours, the price dropped from 2950 to 2800, then rebounded past 3000, only to shrink back to around 2850. What is the real culprit behind this series of moves? High leverage contract liquidations. A large number of stop-loss orders were triggered, causing a chain reaction, and market liquidity instantly revealed its fragility.

This is not a trend signal; frankly, both bulls and bears are being harvested.

The current situation is a bit sensitive. At 21:30, the US November CPI data will be released, which directly affects the Federal Reserve's policy direction. Once the data is out, market sentiment will immediately sway—

Inflation higher than expected? The market is likely to plunge rapidly. Inflation lower than expected might actually rebound? But the upward pressure is complex and tangled, so how long it can last is uncertain.

It is advisable not to rush into actions before and after the data release, especially avoid high leverage. Focus on two key levels: whether ETH can stay above 2850, and whether it can break through the 3000 barrier.

After the data is released, I will follow up with new analytical ideas.