What is the situation with this drop in the early morning of $ETH ? I believe everyone is curious, right?
ETH just broke its historical high, and a large number of early players and institutions decisively cashed out, coinciding with the largest scale of unstaking in history, with a total of 855,000 ETH, worth nearly $6 billion, queuing up for sale. The ongoing selling pressure has led to a continued decline in market sentiment.
Even more deadly is that DeFi has collapsed, with the ETH lending rates on platforms like Aave soaring above 10%, far exceeding staking yields, forcing leveraged players to collectively liquidate and repay, creating a cycle of selling-liquidation-re-selling.
Adding to this, Bitcoin has dropped below $110,000, collapsing market sentiment, along with the seasonal curse of an average 6.4% decline in September over the years, making this multi-kill situation almost inevitable. It is recommended to pay short-term attention to the support levels of 4100-4200, and there is no need to be pessimistic in the medium term. On-chain data shows that institutions have increased their holdings by 1.83 million ETH in half a month, far exceeding the current scale of unstaking, and even if the Federal Reserve cuts interest rates by 25 basis points in September, liquidity will still be supported. Once the pressure from the staking queue eases, the recovery momentum will be released quickly.
The market has gone through consolidation, and recently I plan to position myself in a potential coin that is ready to explode, doubling is still very simple, and an expected growth of over 10 times is not a problem. If you want to follow along, please like and leave a message, sharing willingly!
