Is Ethereum about to crash? Early whales show unusual movements
Affected by the Middle East war, people in the crypto circle are anxious. Yesterday, the Americans took a step that made the market gasp, while prices fell.
Today, I noticed some early ICO wallets of Ethereum starting to revive and withdraw funds to exchanges.
This is similar to the recent situation when Ethereum dropped to $1700 and $1500, forcing a large amount of early chips out.
Many people believe this means Ethereum is finished.
First: even the early whales are not optimistic.
Second: this time, there is the added impact of the Middle East war.
Third: In 2022, when the Russia-Ukraine war broke out, Ethereum dropped from $3500 to $880, and the current weekly K structure resembles the previous bull market peak.
However, in my view, the early whales of Ethereum handing over their chips is not a bad thing, but a good thing.
Some think that compared to the early prices of a few dollars, tens of dollars, or hundreds of dollars, the current price is already too high, so they are not optimistic.
Others believe that the current Ethereum price of $2000-$3000 is undervalued and deserves a higher price, so they are buying, buying, buying.
So there's no need to worry about whether these people are selling? Will the market collapse? Will it fall sharply?
Every cycle, every stage has chips constantly changing hands, and the holders of Ethereum are changing, but the bullish and bearish patterns of the financial market do not change.
Seeing the past is an instinct that everyone has.
Seeing the future tests one's ability; first, whether one can correctly recognize the value of the held cryptocurrency, and secondly, whether one can identify through the market what price is discounted or greatly undervalued.
Many friends focus more on when the price will rise after a drop.
In fact, we should pay more attention to what problem the cryptocurrency is solving? What is its value? Is it undervalued? Is the price I bought at undervalued or already overvalued?
Altcoins are collapsing, and those shorting altcoins are profiting immensely. The 'short king' who shorted 16 altcoins on Hyperliquid has made a profit of $13.68 million in the past month, and currently holds a short position on a basket of altcoins with an unrealized profit of $9.01 million. Recent articles have also emphasized shorting altcoins, and the methods are explained in those articles; I can't help those still longing for altcoins.
Affected by the Middle East war, we are also following the short king to short the market,
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