Today, BTC fell slightly, followed by ETH, and altcoins fell sharply. The information that the Ethereum Foundation deposited coins to exchanges once again entered the public eye.

Ethereum has a history of about 10 years. In the past two years, the Ethereum Foundation has been called the "Master of Escape". It has been able to sell ETH to the right people before a big drop every time.

Many people joked that there are only two masters of escaping the top in the cryptocurrency circle, one is Justin Sun, and the other is the Ethereum Foundation.

Let’s look at the Ethereum Foundation’s cryptocurrency trading operations based on some charts. Let’s first look at this chart, which records the coin selling operations before June 2024.

In the figure, the number of coins sold is tens of thousands. It is not difficult to find that except for the 100,000 ETH sold in 2020, which was sold on the "upward", the others were sold at the stage high point. Very stable.

In particular, the 20,000 ETH sold in 2021 was at the peak of ETH after it broke through $4,000 in the last bull market, which can be called a "masterstroke". When the market was delicate and about to fall, the large sell order of the Ethereum Foundation even attracted many people to follow the sales. This adds a lot of "ingredients" to the story of the Ethereum Foundation's escape master.

Sometimes, after a market crash, on-chain data monitors or the media will sometimes look back at the recent selling points of the Ethereum Foundation, and investors will sigh: The master is still the master.

Why is the Ethereum Foundation so powerful and how can we learn from it?

In fact, the method is very simple. The answer is that if you have a large amount of chips, and then keep selling, you will always be able to sell to the stage peak.

The media and the public will not remember your sell orders during the big boom, they will only remember your buy orders before the big crash.

The above picture shows the large-scale coin sales of the Ethereum Foundation from 2017 to 2023. A large amount of ETH was sold during the accelerated rise of ETH.

In addition, monitoring the address of the Ethereum Foundation also reveals that small sell orders are actually very frequent, mainly 200 ETH. There were 4 orders in May, and one order of 1,000 ETH. Even 100 ETH were sold directly in DEX to "recover blood."

Why do altcoins have no beneficial effects?

Why is Bitcoin the strongest? It’s because Wall Street is buying it and Binance is regulated. If it weren’t for Wall Street, Bitcoin would have died at this time…

Most exchanges are in the red, so they don’t want prices to rise and want to short to close their accounts.

However, Wall Street is too strong and has too much money. So I have no choice but to sell spot and go long in futures (hedging is necessary).

But Bitcoin is hard to fall.

“The reason why altcoins are having such a hard time in this round of market is that, essentially, apart from Wall Street (which only plays with Bitcoin), there is almost no new capital entering the market.

This is equivalent to retail investors betting against the market makers of each exchange, with retail investors going long.

In the past, each exchange and market maker would attract new investors by making old investors profitable on paper.

The presence of new retail investors and new funds can allow the Ponzi scheme to continue longer.

But the environment doesn’t allow it… the leeks have all been plucked bare by the powerful class…

That’s why the crypto market is so looking forward to the easing of monetary easing. The U.S. stock market is so happy in an environment of interest rate hikes!

The core reason is that there are few good things in the cryptocurrency circle, so one can only play Ponzi schemes. Loosening the money supply is a sufficient condition, but not a necessary condition. Good things are the key. What is clearly foreseeable is that the ETF target will fluctuate upward.

Before the Federal Reserve releases the data, I personally think that the market is likely to have no trend, that is, it will be mainly volatile. Buy when it falls too much and sell when it rises too much. Don't chase the rise and sell the fall!

In general, the Ethereum ETF hype will definitely come again. Currently, many Ethereum series products are at low levels. Now is a good opportunity to ambush and increase positions. Buy when the price falls and sell when the price rises!

The real bull market in the crypto market is in the third quarter, so everyone should have confidence and never give up. Whether it is a short-term adjustment or a decline, it is all to accumulate energy for the big bull market. Hold on to the spot and hold it firmly, especially the high-quality assets.

At present, the market should pay attention to the position around 66000. If the 4-hour level is below 66000, then short-term adjustments are inevitable and the market needs to continue to be baptized. At present, what everyone can do is to study and learn more, and at the same time, the more it falls, the more you should buy high-quality assets.

There are still several macro data this week, especially the CPI + interest rate decision + monetary minutes will be released tomorrow night. If tomorrow's data is positive and supports a rebound, there will still be opportunities in the short term, but the premise is that it must reach a new high. If the rebound cannot reach a new high, it will fall further.

1. The CPI data will be released at 8:30 tomorrow night. If it is lower than expected, it will be positive, otherwise it will be negative.

2. At 2:00 a.m. tomorrow night, the Federal Reserve will announce its interest rate decision and a summary of economic expectations (FOMC meeting).

3. Federal Reserve Chairman Powell will deliver a speech around 2:30 a.m. tomorrow night.

The main reason for Ethereum's sluggishness is still the non-agricultural data report, coupled with the fact that a giant whale suddenly started selling more than US$56 million worth of Ethereum.

This round of pullback actually has a very limited impact on Bitcoin, and the impact is mainly on altcoins.

In fact, many altcoins have already fallen to the bottom where they can’t fall any further. No matter how much they fall, they can’t fall any further. At this time, don’t always ask if you can get them. As long as they are valuable altcoins, you can get them.

Especially those altcoins that have never exploded from the beginning to the end, we must hold on to them firmly, because things will change over time!