The sharp drop yesterday clearly showed that the market was a bit overly panicked.

Although ETH fell from 5000 to 4400, which looks like a drop of 600 points, it actually boils down to a few things:

1⃣ BTC whales dumping: 2 billion in volume isn't too much; as long as MicroStrategy continues to buy, this amount of chips will eventually be digested.

2⃣ Federal Reserve board member fired by Trump: The more surreal reason—because he opposed interest rate cuts. After being replaced, doesn’t this actually increase expectations for interest rate cuts?

3⃣ Tonight's Federal Reserve meeting: Everyone is betting on the stance, and short-term capital is likely to be tight.

These three events exploding together created a black swan effect.

But if you think about it carefully, the logic isn’t actually bad. Once the market panic subsides, ETH is still worth keeping an eye on.

Buying at the lower range of 4300-4400, the target is still set at $ETH .