$ETH The current market is in a high-risk accumulation stage, with multiple negative factors rolling and magnifying like a snowball. The breakdown of U.S.-Iran negotiations, the escalation of the Russia-Ukraine conflict, California entering a state of emergency, the increasing risk of U.S. debt default, and the impending U.S. tariff policy together create a series of systematic pressures. These events are weakening the market's expectations for a liquidity rebound, shaking investor confidence.

Although Ethereum has seen a short-term rise, it lacks solid fundamentals and capital support behind it, and technical structures indicate weakening momentum. If the market experiences a sudden emotional shift, it is highly likely to trigger a chain reaction of declines. At this time, investors should return to rationality, be cautious of being misled by emotions and KOLs at high levels, and maintaining risk control awareness is key. #美国加征关税 #加密圆桌讨论 $ETH