$ETH Giant Whale Withdraws 120,000 ETH! Why Did Vitalik's Positive News Become a Scythe for Retail Investors?
In a bear market, the depth of the V is profound, and in a bull market, the long Yang is abundant. But today’s ETH has turned the fluctuating market into an electrocardiogram—both bulls and bears are cutting each other with every knife, leaving retail investors alarmed!
Remember! The market is always born out of despair, rises amid hesitation, and perishes in madness—what phase do you think today’s ETH trend is in?
1. Market Review: News Provides Direction, On-chain Data Reveals Clues
1. Last night and this morning, the ETH news suddenly exploded. First, Vitalik hinted on Twitter that the "Cancun Upgrade" might be advanced to the fourth quarter, then on-chain data showed a giant whale address withdrew 120,000 ETH (approximately $330 million) from Binance in half an hour, directly fueling market FOMO emotions.
2. Analyzing on-chain data, it's clear that large funds are playing a psychological game:
- Net outflow from exchanges skyrocketed: Glassnode monitoring shows that the ETH exchange reserve decreased by 8% in 24 hours, indicating that large holders are accumulating at low prices;
- Liquidation volume surged: Over the past 12 hours, the entire network saw $210 million liquidated (with shorts accounting for 65%), indicating a clear intent from the main players to trigger stop-loss orders.
2. Technical Analysis: Indicators Clash, but Hidden Secrets Exist
1. Price: A meat grinder for bulls and bears, key levels are crucial; the 30-minute K-line amplitude exceeded $500 (2738↔2442), currently stuck around 2500, close to the daily middle track (BOLL-MID).
2. Trading Volume: The main player’s feint revealed itself; actual trading volume was only 6,546, but estimated volume soared to 66,573, a gap of over 10 times. Essentially, it is an order probe: a wall of 10,000 ETH sell orders piled up near 2738, leading to insufficient following orders and sluggish trading.
3. Moving Average System: A unit anomaly, beware of false bullish signals; MA5 and MA10 values are abnormal and actually represent transaction volume (lots), not price. Misinterpreting them as a price golden cross can easily mislead due to false signals from the main players. Remember: a volume-less golden cross is just a paper tiger!
4. MACD: Insufficient rebound momentum; DIF crosses above DEA, MACD histogram turns red, but the values are small, only indicating an oversold rebound signal.
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