ETH experienced significant fluctuations in short-term trading, with the candlestick closing down 0.90%. During this time window, the price center of gravity shifted downward, market trading activity increased, and overall sentiment became cautious, attracting many investors focused on short-term movements.

The main driver of this anomaly was the dense stop-loss orders in the contract market's long positions within key price ranges, causing the price to accelerate downward temporarily. At the same time, forced liquidations of leveraged futures users further amplified the decline, putting additional pressure on the spot market.
Additionally, on-chain data shows that
#CelebratingNewYearOnGateSquare