The situation last night was still the same; the US stock market didn't drop much overall, but $ETH and altcoins are still in a fluctuating downward range. The main reason is that the number of people waiting to exit their staked ETH has already surpassed 1 million. In other words, more and more people want to sell at this price level.

With such heavy selling pressure, it's unlikely that ETH will see a significant rise in the short term; it's more probable that it will fluctuate around the current price, slowly changing hands.

This time, ETH has dropped by 13%, but interestingly, we are starting to see $SOL perform more resiliently. For instance, last night SOL surged to 210 dollars, which has returned to the level ETH was at when it was 4958 dollars, while ETH is currently only around 4600. BNB also remains quite strong, having only dropped by 6%, which is less than ETH's decline.

This indicates that funds may be starting to flow from ETH into some mainstream altcoins. Although it's still just an early sign and not particularly obvious, this serves as a signal. As we mentioned yesterday, this round of the bull market may soon enter its third phase, and at that time, the gains in these mainstream altcoins could likely be much larger than ETH's.