Will Ethereum break through this time? The probability of exceeding 5000 is not small!

The situation with Ethereum is a bit chaotic right now; big buyers are still buying, but some have started to sell. Companies that specialize in hoarding ETH have already spent 3.6 billion dollars to buy 795,000 ETH in August, with BitMine being the main force in the recent public discourse. Their appetite is still quite large.

BUT! The big whales in the market are frantically converting to cash. Several early players and institutions, such as Longling Capital, have been selling large amounts of ETH in recent days, totaling tens of thousands, worth over 100 million dollars. It feels like the price is high, and some want to "cash out".

However, the ETF money is flowing out. Following a small outflow the day before yesterday, yesterday the American ETH ETF saw a net outflow of nearly 200 million dollars! Even BlackRock, which has been buying previously, has seen outflows of over 86 million dollars. The money is no longer just flowing in as before; institutional funds seem to be retreating in the short term.

The price pressure is also significant; ETH has dropped below 4200 dollars today, with a daily drop of over 3%. Experts point out that 4700 dollars is a strong resistance level, like a wall, which has seen multiple corrections in history. The market may be a bit "overheated" right now.

More troubling is that 910,000 ETH are queuing up to exit staking, worth nearly 4 billion dollars! With so many potential sell orders waiting to be executed, this puts pressure on the price. Experts predict that this could lead to a further drop of 5-7% for ETH.

Moreover, critical support needs to be monitored; analysts are currently focused on the 4180 dollar level. If it can hold, the correction could be considered "healthy", and there might still be a chance to break new highs later. If it can't hold, it may continue to probe downwards. $BTC $ETH