Now the whole network is watching, shorts are nervous above 4000, and longs are weak below 3800.

Long and short explosive package: 677 million short positions against 1.247 billion long positions, which side will ignite first is hard to say.

What's more interesting in the market is the whales - someone just threw 49 million dollars worth of ETH into the exchange, as if preparing to run away; on the other hand, institutions directly swept 40.5 million off-exchange, and a company applied for 5 billion financing saying they want to buy the dip.

It's really hard for retail investors in between, fearing to catch the falling knife when buying and fearing to miss out when shorting.

Technical analysts are watching the MACD death cross, RSI stuck at 60, and fundamental analysts are focused on ETFs and a 92.7% probability of interest rate cuts in September.

Historical data says the probability of breaking this time is 85%, looking up at 4200, 4800, with some even calling for 5500.

Of course, last December was just as lively, and it resulted in a direct halving of 66%.

Derivative positions surged to a historic high of 51.3 billion, with a single-day liquidation of 260 million yesterday, 90% of which were shorts.

In this place, it’s either breaking through the stars and the sea, or directly blowing through the bottom pants. #ETH突破4000