6.3 ETH Recovery Wave Ends, Have Whales Secretly Positioned for Bitcoin Shorts?
Recently, ETH's price has been continuously plummeting, and investor sentiment is not very optimistic. The performance of the US stock market is also not good, and the ETH market has experienced a thrilling storm of volatility. In just a few minutes, it dropped sharply from 2800 to 2450, a decline of up to 5%, followed by a partial rebound, closing at 2540 in the latest period, but overall market sentiment remains sluggish.
On the news front, not only the continuous regulatory dynamics and policy uncertainties have impacted market confidence, but several heavyweight traders have also faced liquidation or forced clearance due to high leverage positions, further triggering a chain of panic selling. This series of events has collectively led to extreme fluctuations in ETH prices within a short time, ringing alarm bells for investors.
Looking back at BTC's data, today is another day with low turnover, with most investors still maintaining a wait-and-see attitude. Only losing investors have recently been trading more frequently. The current price is still shifting towards a relatively stable range between 100,500 dollars and 105,000 dollars. Although a lot of chips have accumulated in this range, they cannot temporarily be considered support, and further downward pressure is expected. The main support range remains between 93,000 dollars and 98,000 dollars, where the stability is still very high.
Trading Suggestions:
Short Bitcoin at 105,500-106,000, targeting around 102,000-100,000. Stop-loss at 107,000.
Short Ethereum at 2,550-2,590, targeting around 2,450-2,350. Stop-loss at 2,640.
