ETH was fluctuating below 4,300 USDT, hovering around 4,290–4,300 USDT this morning, with a drop of nearly 4% in the last 24 hours. It was a tense moment: liquidations exceeding US$487 million were triggered on long positions, especially from altcoins like HYPE and SUI, which fell between 7% and 8.7%.

Then, ETH regained some ground and surpassed 4,300 USDT again, sitting around 4,303 USDT, with a slightly more contained drop of 5.37%.

There is no moral to be drawn, just what happened:

Pure tension: falling below 4,300 triggered liquidations and reflections on what comes next.

Second act: the rise above that level suggests that there are still buyers with some resolve.

Context matters, nothing is isolated: macro data, expectations from the Fed at Jackson Hole, and institutional flows (like ETFs) move more than just the price on the chart.

Does any of this resonate with you or generate another question?