$ETH On-chain data shows that more than 1 million ETH are queued up to be unstaked. When long-term staked coins suddenly get unlocked, it is highly likely that the holders want to cash out and exit, after all, many have held for a long time, and the returns are about the same; it makes sense to cash out. On the other hand, there are also over 750,000 ETH waiting to be re-staked, which creates a super large turnover. Old funds cash out and leave, while new funds are willing to enter, indicating that the market is still in a continuous game of dynamics, and the situation has not fallen apart.

This large-scale turnover is actually a good thing; once this wave of selling pressure is absorbed, the market will welcome cleaner chips, and capital can easily drive prices. As long as ETH can get through this unlocking phase and complete the absorption of selling pressure, the probability of moving towards $6000 next is very high.