According to the latest statistics from the on-chain data platform, Ethereum price movements are influencing market sentiment. Once ETH breaks through the key level of $3314, a wave of short liquidations on major trading platforms will be triggered, with the total liquidation scale potentially soaring to $1.785 billion. Conversely, if ETH fails to hold the support below $3002, long positions will face chain reactions of liquidations, amounting to $1.016 billion. This liquidation pressure has a significant impact on market volatility. The trends of Bitcoin and Binance Coin are also closely watched, as the correlation among the three major cryptocurrencies constantly shapes the short-term trading landscape.