Market signals behind breaking 3150: staking surge and liquidation dilemma

According to the latest news, ETH has broken through the 3150 USDT threshold, with the current price at 3152.84 USDT. This breakthrough may seem calm on the surface, but the underlying market dynamics are worth a deeper look. Meanwhile, large-scale staking, on-chain transfers, and liquidation data intertwine to paint a complex market picture.

Market Status After the Breakthrough

Price Performance and Technical Analysis

ETH has risen 1.15% in the past 24 hours, breaking the 3150 threshold. However, from a longer-term perspective, the situation is not optimistic: a 2.02% decline over the past 7 days, indicating that recent gains are more of a technical rebound rather than a trend reversal.

According to technical analysis in the news, the current market shows weakening bullish momentum. The MACD histogram remains positive but is gradually shortening, and the KDJ indicator is in a neutral position. This suggests that after breaking 3150, upward momentum may be limited.

Market Size and Liquidity

ETH’s market cap is $37.745 billion, accounting for 12.10% of the overall crypto market, remaining the second-largest crypto asset by market value. The 24-hour trading volume is $1.219 billion, a 79.31% increase compared to the previous day, indicating increased trading activity around the 3150 level.

Institutional Movements: Large-Scale Staking and On-Chain Transfers

Staking Surge

The most notable is Bitmine’s continuous staking. On January 11, Bitmine staked an additional 86,400 ETH, worth $266.3 million. This institution has accumulated over 1,050,000 ETH in total, valued at approximately $3.3 billion.

This large-scale staking reflects institutional confidence in ETH’s long-term prospects. Staking involves locking assets to earn rewards, usually indicating optimism about the asset’s price performance.

On-Chain Transfer Signals

During the same period, 40,320 ETH (19,200 + 21,120) were transferred to the Beacon deposit contract, worth about $124 million. Additionally, 120,600 ETH were transferred on Tornado Cash, possibly flowing into new projects or long-term holdings.

These on-chain transfers suggest that large holders are adjusting their asset allocations, with some funds flowing into staking and new mechanisms.

Market Risks Cannot Be Ignored

Liquidation Pressure

In the past 24 hours, total on-chain contract liquidations reached $215 million, with ETH liquidations amounting to $58.36 million, accounting for about 27%. This indicates that during ETH’s breakthrough, many short-sellers were forcibly liquidated, but it also reflects significant market volatility.

Technical Challenges

Although the price broke through 3150, technical indicators show weakening bullish strength. Based on 4-hour candlestick analysis, recent resistance is at 3154.0, with support at 3063.0. This suggests that the 3150-3154 range could become a key battleground.

Key Points to Watch Moving Forward

Based on current information, ETH’s breakthrough of 3150 faces several factors to monitor:

• Resistance Confirmation: Whether it can hold above the 3154.0 resistance level will determine the validity of the breakout.
• Trading Volume: Whether the 79.31% increase in 24-hour volume can be sustained, reflecting market enthusiasm.
• Continued Staking: Whether institutions keep staking large amounts, signaling long-term bullishness.
• Risk Release: Whether liquidation data stabilizes; excessive liquidations may indicate upcoming adjustments.

Summary

ETH’s break above 3150 is a technical milestone but not a strong breakout. Market movements show that institutional large-scale staking and on-chain transfers reflect optimism for ETH’s long-term prospects. However, short-term factors such as weakening bullish momentum and liquidation pressures warrant caution.

This price level is more about psychological breakthrough than a trend reversal. Whether ETH can hold above 3154.0 and whether trading volume can be maintained are critical to judging if this breakout is sustainable. Investors should maintain a balanced attitude between institutional positioning and market risks.