#加密市场反弹
A shocking plunge! Can Ethereum $ETH survive this fatal blow?
The cryptocurrency market has been in a mess recently, and Ethereum is the center of the storm. The price suddenly fell below $3,200, a drop of more than 13% in 24 hours, and investors around the world are watching closely. Everyone is wondering: Is ETH about to hit the bottom, or will it fall even worse?
A while ago, Ethereum was still hovering around $4,000, but as soon as it fell below the $3,500 mark, it fell like a slide. Experts say that $2,800 may be the next position that can be supported. But then again, what exactly made Ethereum fall so sharply?
Whale selling: A large amount of ETH was sold off
There is an on-chain analysis platform Lookonchain, which reported several major whale moves:
Whale 1: A large account deposited 22,746 ETH to Binance to repay debts, and sold 31,968 ETH in the past two days.
Whale 2: There is another large account that transferred 49,910 ETH to Binance in 8 hours, and then exchanged it for $137.8 million in stablecoins.
Is the Ethereum Foundation also joining in the fun?
Not only are the whales moving, but the Ethereum Foundation is also selling ETH at this time. They usually like to sell coins at market highs to fund development.
They do this to support the long-term development of Ethereum, but this puts more pressure on prices. With so many ETHs pouring into the market, can retail investors not worry that the price will fall again?
Has Ethereum hit the bottom?
With the whales selling so much, the price has fallen below an important threshold again. Everyone wants to know: Is Ethereum about to hit the bottom, or will it continue to fall?
Some experts think that $2,800 may be the next stable position. But some people warn that if whales continue to sell, the price will have to fall. Will ETH hit a new low or rebound?
You need to know this:
If $2,800 can hold, Ethereum may stabilize and prepare to rebound.
But if the selling pressure is still so great, the price will have to fall in the short term.
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