Ethereum 'Fake Fall' or 'Real Drop'? The Bottom-Fishing Trap Unveiled
In the cryptocurrency market, the trend of Ethereum (ETH) always attracts countless investors' attention. Recently, there has been a wave of bottom-fishing in the market, with many investors rushing in, trying to make a profit at the price trough. However, the complexity of the market is far beyond imagination, and this bottom-fishing craze may just be 'fishing in solitude'.
1. Hidden Concerns Behind the Bottom-Fishing Craze
Currently, many investors believe that Ethereum has fallen to the 'floor price' and have started bottom-fishing. Data shows that the long entry rate of bulls has surged significantly today, and the average holding duration of long positions has also increased markedly. However, this bottom-fishing behavior may just be laying the groundwork for the next crash. If Ethereum's current price is above $3000, there may still be a glimmer of hope, as the average price is relatively high, potentially providing some rebound momentum. But with the current price around $1600, the average price is too low, making this bottom-fishing behavior seem more like baiting. Once the price rebounds to around $1720-$1750, it is very likely to face another sharp decline.
2. The 'Bottom-Fishing Trilogy' in the Bitcoin Market
Not only Ethereum, but the Bitcoin market has also seen a similar bottom-fishing frenzy. Currently, the price of Bitcoin is still around $84,500, and there are still people bottom-fishing at such a high price. This bottom-fishing behavior can actually be divided into three phases: the first wave of bottom-fishing uses personal funds, the second wave uses borrowed funds, and the third wave is selling everything. Only when ordinary investors run out of funds will the market truly usher in an opportunity for bottom-fishing.
3. Patience is Key, the Time for Bottom-Fishing Has Not Yet Come
In this situation, investors need to remain calm and not be misled by the short-term fluctuations of the market. Now is not the right time for bottom-fishing; instead, one should patiently wait for the market to adjust further. The first target for Ethereum may be around $1226, and only when the price truly drops to this level can there be a real opportunity for bottom-fishing.
Conclusion
In the cryptocurrency market, blindly following the trend of bottom-fishing often leads to deeper troubles. Investors need to remain rational and analyze the true market trends, rather than being swayed by short-term fluctuations.
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