币界网报道：Ethereum has experienced a typical bull trap in the past 72 hours, with prices falling nearly 15% from the weekly high of $2,878, leaving bulls on the defensive. The market is in a deleveraging phase, with Ethereum's open interest reaching an all-time high of $41.45 billion on June 11, and leveraged positions even exceeding the previous bull peak. With the recovery of risk appetite and macro-positive news, speculative funds have poured in, but the subsequent pullback has forced many traders to close their positions or stop losses. Ethereum's open interest has decreased by nearly 14%, far exceeding Bitcoin's. At present, the market is concerned about whether the key support level of $2,400 can be maintained. Some large investors actively bought at low levels, cumulatively purchasing nearly 49,000 Ethereum, worth about $127 million. However, prices are still under pressure, and if the support level is lost in the short term, it may trigger a new round of forced liquidation and price declines.