While examining the $ETH trading chart from the last hour, I noticed a significant drop within a minute, followed by it stabilizing around 3652. The price of $ETH fell sharply from 3791 to 3498 within that minute, suggesting a sudden surge in selling pressure, possibly due to a large sell order or negative news. However, the fact that the price quickly rebounded to 3.6k indicates that buyers intervened to support the price. This could mean they saw the dip as an opportunity to buy or reacted positively to market developments. Does this indicate a major sell-off? There are reports that the SEC has postponed the approval of ETFs.
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