Bulls are going to be washed out in despair. After experiencing a continuous week of pullbacks, bulls seem to have lost their confidence. The bears are gradually accumulating above. Ethereum only needs to slightly rebound to 4240 to liquidate 1.7 billion USD worth of shorts.

Pay close attention to Thursday's speech. If Powell releases dovish signals at Jackson Hole, confirming a rate cut in September, a polar reversal may occur!