CoinMeta data: The open interest of ETH contracts has reached $30 billion for the first time, setting a new high since October 2025, representing a market exposure of nearly 12 million Ether. Meanwhile, the average long-to-short ratio of Binance, Bybit, Bitget, HTX, and Gate is 1.54, indicating that long positions are significantly dominant. Even if the price of ETH rises, it is expected that the number of positions liquidated will be less than when it falls, as traders currently have a greater exposure to long positions.