Ethereum Longs Liquidated at $4,600 — Short-Term Bearish Pressure

I saw an Ethereum long liquidation of $73.9K executed at $4,600.85. This was a clear short squeeze/stop-hunt event around that price level.

I view the liquidation as a sign of short-term bearish pressure and heightened volatility rather than a decisive trend reversal. The size is meaningful for leveraged traders but small relative to the overall ETH market.

I'll remain cautious: watch for follow-through below $4,600 and look for a reclaim of that level before adding directional long exposure.