People are always overwhelmed by a momentary surge, seeing only the K-line soaring upward, but unwilling to look at the big data and the essence behind it. When the E Guardian hangs at a high point, the main force has quietly sold off. The short-term rebound is merely a trap for the bulls! The bearish factors have always been present; you just don't want to see:

🔻 Ethereum's recent on-chain activity has been sluggish, transaction fees have fallen, and the actual on-chain usage rate has declined;

🔻 Too many L2 projects are diverting traffic from the main network, leading to weakened growth momentum for Ethereum itself;

🔻 The staking lock-up ratio of ETH is too high, creating significant liquidity pressure; once selling pressure arrives, it will be difficult to support the price;

🔻 The U.S. SEC's review of the Ethereum ETF remains uncertain, and legal risks have not been completely lifted;

🔻 Macroeconomic market risks are rising, U.S. Treasury yields are climbing, and funds are flowing back to traditional safe-haven assets.

This wave of rise is just fireworks; don't forget that the main force feeds on your greed. Think calmly, and don't let short-term red K lines deceive your judgment. $ETH