According to Odaily's OKX market data, ETH has broken through 3700 USDT, currently trading at 3700.2 USDT, a 24-hour increase of 5.95%. (This newsletter was generated with AI assistance.)

According to market sources, SOFR traders continue to bet that the Federal Reserve will cut interest rates by 50 basis points in September. (Zhitong Finance)

Odaily Planet Daily reports that Greeks.live released an English community briefing, noting that the community expressed cautious optimism, with traders anticipating a price rebound rather than an immediate new high, while maintaining a mixed position of short call and put options. The altcoin market showed significant divergence, with some traders remaining bullish on ETH, believing its price target would exceed $5,000.

According to on-chain analyst Yu Jin, an Ethereum trader with a 75% win rate cut his short position by 20,000 ETH (approximately $68 million) today. The trader previously held a total short position of 50,000 ETH, turning a profit of $12.25 million yesterday into a loss of $840,000. Currently, the trader still holds a short position of 30,000 ETH, worth approximately $110 million, with an opening price of $3,634 and a liquidation price of $3,701.

According to Odaily Planet Daily, Coinglass data shows that in the past hour, the entire network had a liquidation of 45.2246 million US dollars, of which short positions had a liquidation of 42.0813 million US dollars and long positions had a liquidation of 3.1433 million US dollars. In addition, the amount of ETH liquidation reached 21.2251 million US dollars.

According to on-chain analyst Aunt Ai (@ai9684xtpa), an insider whale closed out his short positions in XRP and SOL half an hour ago, resulting in a cumulative loss of $1.644 million. The trader currently holds $105 million worth of short positions in BTC and ETH. The BTC short position is currently in profit due to its opening price of $116,736.3, while the ETH short position has a floating loss of $1.094 million.