$ETH This decline has several special points:

1. Escalating war risks: Israel's airstrikes on Iranian nuclear facilities may trigger direct retaliation from Iran, and even U.S. intervention. This systemic risk has led to funds fleeing first.

2. Technical overselling: Bitcoin's RSI has dropped to 35 (oversold area), and Ethereum has broken below the key support level of $2500, indicating a technical need for a rebound.

3. Severe leverage liquidation: $1.16 billion was liquidated in 24 hours, with 92% being long positions. After the panic selling, short covering may drive a rebound.

4. Funding dominated by shorts: The funding rate for Bitcoin perpetual contracts has turned negative, indicating an advantage for shorts, but some shorts have begun to take profits, potentially building momentum for a rebound.