Ethereum 2878 Nuclear Explosion Site! The main force cleared their positions overnight, and tonight's life-and-death line will determine bulls and bears!
Last night, ETH staged an epic mass escape! The price plummeted from $2878, dropping $136 in 24 hours, with 380 million liquidation orders flooding the market — this is not just a pullback, it's a blatant massacre by the main force!
A large on-chain transfer of 50,000 ETH was spotted, coinciding with a precise sell-off at the $2878 peak, suspected to be institutions like Grayscale cashing out under the pretext of ETF approval delays. Contract slaughterhouse: The funding rate for the perpetual contract at $2878 soared to 0.15%, the exchange's high-leverage long positions faced reverse liquidations, and 120 million short positions instantly slaughtered retail investors. 19. Technical death cross: Three failed assaults on $2870 formed a 'triple top', the daily MACD top divergence dead cross was triggered synchronously, this pattern appeared three times before the crash in May 2024, with each drop exceeding 30%. 17.
The SEC's delay in BlackRock's proposal has caused institutional funds to dry up, with the buy-sell ratio plummeting from +0.5% to negative values, and BlackRock's IBIT fund saw a net outflow hit a three-month high in a single day. 15. Leverage liquidation domino: The break of the $2766 support triggered programmatic trading sell-offs, with thousands of sell orders per second smashing through the psychological barrier of $2800, the liquidation intensity map shows that there are 780 million liquidation orders lurking below $2750. 19.
If the weekly close is below $2700, the weekly chart will form a 'Evening Star' — this pattern appeared during the Silicon Valley Bank crisis in March 2023, after which ETH plummeted by 42%. 18. The only reversal condition is for the daily chart to stabilize above $2850 with a volume increase of 300%, but the current number of active addresses on-chain has plummeted by 47% year-on-year, and ecological funds continue to flow out to competitors like SOL, with a miracle probability of less than 5%. 78.
When the $2800 support is pierced like paper, and all three assaults on $2870 are mere bait for longs, do you still believe in the nonsense of 'the bull turns back'? Remember: the sharpest sickle in a bull market is always hidden in the moment of 'strongest consensus'!
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