#Gate广场圣诞送温暖 late night big dump! 180,000 people lost everything, has the worst time passed?

Last night, the cryptocurrency market experienced another "midnight scare." Both Bitcoin and Ethereum fell sharply, with the total liquidation amount reaching 656 million USD, and 180,000 people encountered liquidations in their sleep. Among them, long investors suffered particularly heavy losses—long positions were liquidated for 481 million USD, nearly three times the scale of short positions. In this round of falls, the liquidation of Ethereum long positions reached 194 million USD.
But there is no need to be too pessimistic. The world's largest asset management company BlackRock has quietly registered the "iShares Staked Ethereum Trust" in Delaware, signaling the upcoming launch of an Ethereum staking ETF. This is another significant move by BlackRock in the crypto space – its existing iShares Ethereum Trust manages $11.5 billion in assets, making it the largest Ethereum ETF currently.
Secondly, we might as well broaden our perspective and look at the overall development trend of crypto ETFs. The U.S. SEC is accelerating the approval of crypto ETFs, with multiple altcoin ETFs including Ethereum, Solana, and XRP being approved one after another. Although short-term capital inflows are limited, in the long run, these compliant products will bring a steady stream of institutional funds to the crypto market, equivalent to building a highway directly to Wall Street for the entire industry.
Technical innovations are also quietly underway. In the face of challenges from competitors like Solana, the Ethereum Foundation has proposed the Ethereum Interoperability Layer (EIL) solution, aimed at addressing the fragmentation issue of the current layer 2 networks "warlord fragmentation". If this upgrade is successful, it will significantly enhance the user experience of transferring assets between different chains and inject strong momentum into the Ethereum ecosystem.
The current crisis is, in fact, a quadruple reshuffle of "price, order, resources, and emotions." The harsher the reshuffle, the higher the quality of the remaining chips; the more thorough the reshuffle, the stronger the foundation for future increases, and the crazier the future coin prices will be.
Institutions are positioning themselves during the bear market, technologies are being refined in the bear market, and infrastructures are being upgraded in the bear market—these all remind us that the worst may be behind us. As panic gradually dissipates, in two or three months, you might find that the recent lows are simply "God is discounting the future."