$ETH ETH Dog Palace's Magic Show! Is the next second heaven or hell?

Today's market is harder to guess than a girlfriend's thoughts — the ETH five-minute K-line is like being tossed into a washing machine by the Dog Palace, jumping up and down in a thrilling manner. The big shots in China and the U.S. have just shaken hands to pause the 24% tariff, yet ETH performed a "good news turns to bad news" act, with prices crazily oscillating in the $2442-$2454 range, and the middle band of the Bollinger Bands was literally ground down into a Dog Palace's washboard.

1. Good news turns into bad news, explosive rise turns into a painting door

The early morning spike to $2445 can be considered a textbook "trap" scene. The Dog Palace holds up the technological banner of Pectra upgrade in its left hand while swinging a $221 million liquidation sword in its right hand. Just as the bulls shouted "the bull is back quickly," they were pressed to the ground and sparked all over. Even more astonishing is BlackRock's $2.9 billion acquisition of Deribit; institutional whales were enjoying hot pot and singing, while the ETH price was played like an electrocardiogram — just broke $2500 a second ago, and the next second it free-fell through $2406.

2. Both bulls and bears slaughtered in a reality show

Now, this market can be likened to the "Squid Game" of the crypto world, with MACD green bars shining brighter than Spring Festival fireworks, and the RSI indicator lying flat at 45 pretending to be dead. The Dog Palace is clearly engaging in performance art: the Norwegian sovereign fund just announced an increase in holdings, and miners immediately dumped 80,000 ETH; Vitalik shouted about simplifying the Ethereum architecture, but Layer 2's fees actually dropped by 40% first — this move is more despairing than "losing weight but first losing the chest."

3. Silent bull market or death spiral?

Don’t be fooled by the 6.61 million holding addresses nearing a break-even point, but on-chain data reveals something eerie — the RWA tokenization scale has soared to $5 billion, yet the growth rate of active addresses is slower than a snail, clearly indicating that whales are playing the "left hand to right hand" game. Even more magical is that the futures market's open contracts surged by 25%, and the short liquidation volume is actually twice that of the longs; this plot is crazier than "The Wolf of Wall Street." #CPI数据来袭 #ETH突破2500 #加密圆桌会议要点 #贸易战缓和 #币安Alpha上新