February 23 Market Analysis

【ETH Event Analysis】Bybit's Theft of 1.5 Billion ETH Becomes a Potential Positive:

1. Hackers Cannot Sell in the Short Term, Essentially Locking Up Funds;

2. Exchanges Need to Buy Back to Replenish, Creating Buying Support;

3. Huge Accumulation of Short Positions (Funding Rates Rarely Negative), Short Covering Will Become Fuel for the Rise.

Combined with the Major Upgrade on April 18, the Current Price Around 2750 is Severely Undervalued. Historical Fractals Show a Possible Surge to 3500 Before April, and a Key Support Rebound Around 2600 Could Offer a Second Opportunity to Enter Long.