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The Next Shock Could Hit ETH Differently ⚠️ The early-August carry trade unwind pressured both $BTC and $ETH—but their leverage structures are not the same. $BTC is heavily driven by futures and institutional positioning, so deleveraging can often happen quickly and relatively orderly. $ETH has another layer of risk: DeFi leverage, liquidations, and on-chain borrowing. That means a sharp ETH decline could create a feedback loop: 📉 Price falls → ⚠️ Collateral gets stressed → 🔥 Liquidations increase → 📉 More selling pressure That’s why I’m not watching the $ETH chart alone. Keep an eye on TVL, funding rates, open interest, and on-chain activity. The next major move won’t just be about price. It will be about where the leverage is hiding. 👀 #BTCVolumeDriesUp #AIInfraEarningsWatch #SPCXOwnershipRevealed