Ethereum price trends are becoming a short-term market focus. If the price falls below $2900, the cumulative liquidation of longs on major exchanges will reach $802 million; conversely, if it breaks above $3000, the short liquidation intensity could reach $228 million.

Meanwhile, deeper macroeconomic factors are changing. Bitcoin has pulled back after reaching a historic high in October, but market skepticism towards the dollar system is growing—analysts generally believe that the dollar faces structural depreciation pressure. Interestingly, the continued appreciation of gold and silver over the next few years may create new growth opportunities for risk assets like Bitcoin. This asset rotation and shift in risk sentiment are worth close observation.