Core Downward Drivers

  1. Macroeconomic Pressure
    Expectations of Federal Reserve interest rate hikes are rising, coupled with geopolitical conflicts, leading to the sell-off of risk assets and a flow of funds into safe-haven assets like gold.

  2. Technical Bottlenecks and Competition
    The slow progress of Ethereum 2.0 upgrades, along with public chains like Solana capturing ecological share due to low fees, undermines market confidence.

  3. Leverage Crashes and Regulation
    High-leverage positions leading to a series of liquidations result in liquidity exhaustion, compounded by the U.S. delaying the approval of Ethereum ETFs, which heightens panic sentiment.

    The recent plunge of Ethereum is an inevitable result of macro tightening, technical bottlenecks, and market leverage resonance. It reveals the vulnerability of the crypto market to traditional financial cycles and highlights the intensifying competition in the public chain sector. In the short term, whether the $2000 level can hold will determine the direction of market sentiment, but excessive panic is unwise—breakthroughs in Layer 2 technology, institutional compliance arrangements, and improvements in regulatory frameworks still provide long-term value support for Ethereum. Investors need to respond rationally to fluctuations, track Federal Reserve policies and Ethereum ecosystem developments, and seize strategic opportunities arising from technical overselling to gain an advantage in the new crypto cycle characterized by both risks and growth.




    #加密市场回调 #以太坊