Ethereum 2878 Nuke Site! Major Players Cleaned Out Overnight, Tonight's Life and Death Line Determines Bull or Bear!
Last night, ETH staged an epic mass escape! The price plummeted from $2878, crashing $136 in 24 hours, with 380 million liquidation orders flooding the network—this is not a correction, but a blatant massacre by major players!
A single transfer of 50,000 ETH appeared on the chain, coinciding with the precise sell-off at the 2878 high, suspected to be institutions like Grayscale cashing out under the guise of ETF approval delays.Contract Slaughterhouse: The funding rate for perpetual contracts at $2878 soared to 0.15%, with exchange borrowing high leverage long positions leading to reverse liquidations, and 120 million short positions quickly strangling retail investors.Technical Death Cross: Three failed assaults on $2870 formed a “triple top,” with daily MACD divergence triggering a death cross simultaneously; this pattern has appeared three times before the May 2024 crash, each time with a drop exceeding 30%.
SEC's delay of BlackRock's proposal has led to a funding drought for institutions, with buy-side commission ratio crashing from +0.5% to negative values, and BlackRock's IBIT fund seeing net outflows hitting a three-month high in a single day.Leverage Liquidation Dominoes: A break below the $2766 support triggered algorithmic trading sell-offs, with thousands of sell orders flooding the market every second, breaching the psychological barrier at $2800. The liquidation intensity map shows $780 million in liquidation orders lurking below $2750.
If this week closes below $2700, the weekly chart will form a “Evening Star”—this pattern appeared during the Silicon Valley Bank crisis in March 2023, after which ETH crashed by 42%. The only reversal condition is for the daily chart to stabilize above $2850 with volume increasing by 300%, but currently, the number of active addresses on-chain has plummeted by 47% year-on-year, and ecological funds continue to flow out to competitors like SOL, leaving a miracle probability of less than 5%.
When the $2800 support is breached like paper, and all three assaults on $2870 are mere bait, do you still believe in the nonsense of a “bull turnaround”? Remember: the sharpest scythe in a bull market is always hidden at the moment of the strongest consensus!
