Today's market plummeted, with undercurrents surging. Amu is here to answer your questions! At 18:30, the ETH price hovered between $3679 and $3685. At this time, the market is sending signals of external economic risks and internal capital fluctuation pressures.

From 18:30 to 19:16, within 46 minutes, the ETH price rapidly rose from 3679 USD to 3805 USD, an increase of approximately 3.42%. This phase saw concentrated buying, indicating market funds adjusting positions and quickly replenishing their holdings.
From 18:30 to 19:25, another set of data indicates an increase from $3685 to $3817, a rise of approximately 3.60%, reflecting the continuous driving force of the bulls and the release of local liquidity.
At 19:45, the ETH price retraced to $3778.66, and the phase of adjustment following the surge indicates that the market is facing some profit-taking pressure at high levels.
The recent dramatic fluctuation in the ETH market is mainly influenced by the following two major factors: First, external macroeconomic and policy uncertainties, such as global trade frictions, adjustments in tariff policy expectations, and rising risks in the credit market, continuously stimulate the market's risk aversion sentiment. Recently, the friction between the United States and China has intensified, along with hints from certain high-level officials about adjusting tariff policies, causing local turmoil in traditional financial markets, which in turn affects the digital asset sector. Second, internal liquidity pressure and high leverage risk, with a large number of whale positions being liquidated in the market recently, and frequent liquidation of leveraged short positions, triggering drastic changes in local liquidity. Data shows that in the last hour, the total liquidation amount across the network reached as high as $8 million, with short positions accounting for nearly 80%. This phenomenon of high-leverage trading and rapid capital flight has caused the ETH price to soar and plummet within a short time, resulting in an extreme market performance.

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