ETH: Summary of Valuescan community discussions (02:00:10 ~ 03:00:10)

[Extracting viewpoint materials] 1. Long in ETH have been continuously reduced, from 307.2 ETH to 80 ETH. Multiple medium-sized reductions during this period indicate that long positions are under significant pressure, risks are gradually emerging, and the price is getting closer to the liquidation threshold. [src: @Valuescan, 2026-02-04 01:22:30/#2081223；ref: window] 2. The long ETH position held by Machi Big Brother Wallet continues to show unrealized losses, with a loss rate as high as 120%-154%. Multiple reductions in position size indicate that long funds are gradually exiting under pressure, and the risk of liquidation is significant. [src: @Valuescan, 2026-02-04 01:43:10/#2081638；ref: window] 3. Along with a significant reduction in long positions on ETH, long positions on HYPE tokens also decreased, resulting in substantial unrealized losses. This indicates weak overall bullish sentiment and a clear outflow of funds. [src: @Valuescan, 2026-02-04 01:58:59/#2081876；ref: window] 4. Our trading partners' BTC/ETH short swing traders demonstrated consistently high profitability, with a win rate as high as 82.7%. They favored a short-selling strategy, and all their large BTC short positions have been closed, yielding profits of approximately $17,700. This indicates that short-selling funds have been actively and effectively operating recently. [src: @Valuescan, 2026-02-04 02:47:30/#2082781；ref: window] 5. This BTC/ETH short swing trader had just opened a large short position in BTC within the previous hour, holding approximately 13.3 BTC at an average price of about $74,928. Risk control was relatively good, and the margin for liquidation is still 31.7%. [src: @Valuescan, 2026-02-04 01:49:31/#2081750；ref: window] 6. Community members expressed their approval of short ETH, stating that "shorting ETH never disappoints," reflecting a generally bullish or bearish sentiment towards the ETH short position. [src: @Valuescan, 2026-02-04 02:33:47/#2082534；ref: window] 7. Although Machi Big Brother Wallet's long positions are in a high-risk state, it is still reducing its holdings in small amounts, indicating that funds are trying to reduce risk by gradually exiting, and the bullish bias remains obvious. [src: @Valuescan, 2026-02-04 01:40:22/#2081566；ref: window] 8. The liquidation price of ETH long positions in the Machi Big Brother wallet has been continuously declining, gradually adjusting from approximately $2204 to $2110, accompanied by multiple reductions in holdings, suggesting defensive operations by long funds in response to market corrections. [src: @Valuescan, 2026-02-04 01:58:59/#2081876；ref: window] 9. The repeatedly mentioned "distance to liquidation" ratio fluctuates between 5% and 10%, indicating that long positions are nearing forced liquidation, overall risk exposure is high, and liquidity pressure is increasing. [src: @Valuescan, 2026-02-04 01:22:19/#2081218；ref: ctx] [Summarizing Key Clues (Optional)] - ETH long positions continue to be reduced, and the risk of liquidation is gradually increasing, with funds clearly fleeing. - Short positions in BTC/ETH have been stable, and recent large-scale short operations have yielded successful profits, indicating a strong bearish sentiment in the market. - The community generally agrees on the ETH short-selling strategy, forming the main theme of short-selling speculation. - The liquidation price of long positions has shifted downwards, indicating that funds are attempting to reduce risk by reducing positions in batches, suggesting high market volatility.