Although ETH has experienced continuous net inflows, it still cannot withstand the eight spot trading pairs launched by BN in just half a month. The introduction of these trading pairs has undoubtedly caused a severe impact on ETH's liquidity, ultimately leading to the collapse of the altcoin market.

From a technical perspective, ETH is currently retesting its key trend line and important support level. The current pullback may be nearing its end. From last night until now, ETH's price has shown a wave of fluctuating downward movement, and after three waves of decline, the pullback may be close to concluding.

As for altcoins, their liquidity is indeed weak. Currently, with the addition of high-valued junk coins, the liquid funds in the market are being rapidly withdrawn, leading to a significant decline in altcoins, which have no investment value at all. All we can do is wait for the opportunity for market recovery.