Ethereum Market Reminder on June 1: A Major Waterfall May Be Approaching! Ethereum needs to return to around 2100 (at most one more rebound). I've been outside for the past couple of days and just took a moment to look at the data. Ethereum cannot be bottomed out right now; according to the current data, there is very limited upside space. The withdrawal of funds from altcoins is very evident, and most of today's rise in altcoins is driven by shorts taking profits and buying back to cover. The entire market cannot be bottomed out; currently, the funds in Ethereum are relatively strong, but they may withdraw at any time, so bottom fishing is not recommended. I have been emphasizing that Hippo, Squirrel, Dog Sister, and People, the four early leaders, cannot be bottomed out; it is still completely impossible to bottom out now. The main force behind Hippo has a large number of open short positions, while retail bulls have a very high entry rate, making the possibility of a significant price increase almost zero. If Ethereum is to go up one more time (I've been saying to short above 2800 and also think of going long to this level), one can only bottom out on some bullish data that is relatively scarce, with lower market capitalization and more relaxed leverage limits that can accommodate more funds in altcoins. Currently, we believe Ethereum will at most see one more rise, with a peak at 2820 (this is the highest point that can be seen, and it may not necessarily happen).

Current market judgment presents two possibilities:

1. Ethereum's last dance, v up to 2820, a new batch of leading altcoins emerges. Then, the official harvesting begins, and a major waterfall arrives, with altcoins falling for 3 months, starting from a halving!

2. Directly starting a major waterfall, with altcoins falling for 3 months, starting from a halving!

Currently, do not easily bottom out in altcoins! The main force smashing the market is never to allow you to bottom out and make money! Basically, I have seen a bearish direction now; I previously thought it would go to around 2810, so I didn't enter a short position. In the current market, do not easily attempt to bottom out! The rise of altcoins can at most be considered a rebound, not a reversal trend to bullish!