Kai Ge will analyze for everyone why this wave has fallen and where the bottom is.

Do you all remember that the main culprit of this wave of decline was the PPI data that caused a significant drop? What is the reason for this?

If you recall, ETH surged to around 4200-4300 around August 9th and then started to fluctuate downwards and weakened. However, after the CPI, it suddenly soared to 4700.

This is because the market had already anticipated interest rate cuts, so institutions increased their purchases of risk assets like ETH. But after the PPI data was released, the market became uncertain about whether interest rates would be cut, and institutions naturally sold off.

So ETH has experienced a continuous decline, but based on this logic, the bottom is around 4150-4050 around August 9th. Bright days are not far away. #币安HODLer空投PLUME