$ETH Giant Whale Sells $650 Million Overnight! Behind the 20% Plunge, Who is Harvesting the Bottom-Fishing Army?
ETH Plunges $400 from High! Bottom-Fishers Collective Fail, Bear Market Scythe Specially Harvesting Stubborn Leeks?
1. Technical Aspects!
1. The MACD indicator directly shows a death signal: both DIF and DEA are sinking in the negative zone, the MACD histogram barely turning red, but the price is still hitting new lows, a typical bottom divergence trap – it seems like a rebound signal on the surface, but in reality, it's a trap set by the market makers! This pattern is called a dead cat bounce in the crypto circle, and the rebound is just an opportunity to escape; whoever buys the bottom is catching flying knives.
2. The trading volume is even more alarming – estimated trading volume surged to 78,000 ETH, clearly indicating that the main force is offloading. The more the price drops, the larger the volume, indicating that big funds are frantically dumping their holdings, while retail investors are picking up the pieces until their hands are sore. On-chain data confirms: a giant whale transferred 28,000 ETH to Binance in one go early in the morning, directly crushing market sentiment.
3. Looking at the MA moving averages, the price has fallen below all short-term moving averages (5-day, 10-day), and the moving averages show a bearish waterfall pattern (short-term moving averages are pointing straight down), indicating that the downtrend is accelerating. Now $2400 has turned from support into a solid ceiling; if the price can't rebound past it, it will mark the beginning of a new round of slaughter.
2. Latest News Updates:
1. Vitalik Buterin tweeted that the centralization issue of Ethereum nodes remains unresolved, and large holders are accelerating their withdrawal;
2. A leading DeFi protocol's oracle failure triggered ETH liquidations, causing a surge in panic selling;
3. The U.S. SEC has delayed its decision on the Ethereum ETF, causing funds to flee in panic.
3. On-Chain Solid Evidence!
1. The amount of ETH held on exchanges surged 18% in 24 hours, with whales continuously hoarding coins on exchanges;
2. Derivative liquidation amounts exceeded $350 million, with many investors suffering heavy losses.
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