Data will never lie, but the harshness of the market is often overlooked.

Breaking through the 3200 level on ETH, shorts need to withstand $8.68 million in liquidation pressure; and once it falls below 3000, long positions face a risk exposure of $12.89 million. At first glance, these numbers seem cold, but their implications are worth pondering.

Many people interpret the liquidation chart as "this is where a lot of money is waiting to explode," but this is a misconception. The real situation is — the liquidation chart is telling you one thing: when the price reaches a certain level, which side, long or short, will be the first to be wiped out by the market.

Look at those particularly tall liquidation bars — they are not just normal price fluctuations; they are real explosion zones for liquidations. Once the price hits them, it’s not just oscillation adjustments but chain reactions of liquidation causing a stampede. That’s why experienced traders pay close attention to these critical levels — not to predict market direction, but to identify risks.