$BTC $ETH This morning, when ETH accelerated its drop to 3100, the spot leverage players went all-in hard. The rebound was also driven by these spot leverage players buying in. Since spot leverage involves borrowing USDT to buy ETH, it directly impacts the spot market, making it much stronger than contract buying. After a 100-point rebound, these spot leverage players quickly reduced their leverage again, with an estimated average profit of only 50 points.