Last night, ETH suddenly fell below the 2600 mark, with the 24-hour increase rapidly narrowing to 2.66%. Retail investors exclaimed that the bull market has ended — but veterans have seen through this textbook-level washout by the main forces! Binance order book data reveals the secret: During the plunge, whale wallets were frantically accumulating, and the amount of ETH reserves on exchanges dropped by 120,000 in half an hour!#ETH🔥🔥🔥🔥🔥🔥
Remember Dachuan's words: A market pullback is not a risk; it is the clarion call for wealth redistribution! The current ETH pullback happens to land on a key weekly support level, while behind it, two major nuclear-level positive factors are counting down:
The Federal Reserve's dovish tone is resonating: Last night, Citigroup revealed that the June minutes concealed hints of interest rate cuts, and global hot money has already caught the scent of blood.
The final battle for ETFs: Institutions like BlackRock are entering the countdown stage for ETH spot ETF approvals, with billions of dollars ready to be deployed.
History always rhymes: In January this year, before the approval of the BTC spot ETF, Bitcoin experienced a 20% drop in one week, followed by a 70% surge over the next three months! Now, the ETH script is repeating, and amid the knife-edge of the main forces accumulating positions, lies a golden opportunity for cognitive realization.
While most people are fixated on the trembling prices, the smart ones are listening to the roar of capital and strategically positioning themselves.
Will ETH below 2600 be the last cheap chip in this bull market?
Core insights:
The truth behind the sharp drop: Whales are violently washing out positions using negative news, and the amount of ETH held on exchanges has plummeted.
Gold support: A strong support zone at the weekly level that hasn’t been breached in the past three years.
Dual core drivers: Expectations of Fed interest rate cuts + imminent approval of ETH spot ETFs.
Practical strategy: Place orders in batches in the 2550-2600 range; better to buy high than to miss out!
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