After Ethereum's night-time rise to $2600, it fell back: According to monitoring by Phoenix Finance and Coin界网, ETH briefly broke through $2600 (peaking at $2619.94 USDT) in the early morning of May 11, but quickly fell back to $2581 under the pressure of large whale sell-offs, with a 24-hour volatility of 4.8%. On-chain data shows that an anonymous address sold 12,000 ETH (worth $31.2 million) at the moment of the breakthrough, triggering over $47 million in long position liquidations in the derivatives market. Currently, ETH is quoted at $2525, with the technical chart showing a 'fake breakout' pattern, requiring close attention to the long and short battle in the $2550-$2600 range. Matrixport warns that if the weekly close cannot hold above $2600, a pullback to the $2350 support level may occur.