The morning crash of Ethereum actually has many explanations.
Vitalik mentioned in X that he hasn't sold ETH and is even increasing his holdings.
In February this year, a giant whale accumulated a large amount of Ether. This morning, there was significant activity near the 2500 level, followed by a large sell-off.
At 8:30 AM, the official announcement was made about Israel launching an attack on Iran.
Last night, Tether was again under investigation.
A series of chain reactions have caused Ethereum to lose faith once more.
However, what we need to closely monitor from a technical perspective is whether this morning's spike can hold; if it doesn't break down again, then in the short term, many altcoins can start to participate.
In the face of such news announcements, technical analysis is like hitting a stone with an egg!
However, if this support holds, then in the short term, a bottom may form, and there will indeed be spot opportunities worth participating in, especially among some leading projects in the Bitcoin ecosystem:
stx
bch
As for the upcoming elections, we still cannot do without the people.
What does everyone think about this?
