The truth behind the "plunge" at 6:00 AM $ETH : A triple strangulation of macro funds and technology; should we chase longs now or wait for shorts?

Reason for the crash in the early morning: Federal Reserve hawkishness, poor economic data, manufacturing contraction, rising unemployment rate, triggering recession panic, institutions dumping ETH; escalation of Middle East conflicts, funds buying gold, liquidity in the crypto market declining, ETH falling with U.S. stocks.

Over $15.4 billion in options expiration, out-of-the-money put options not exercised leading to hedge fund sell-offs; miners selling 42,000 ETH to cover costs, institutions transferring 17,500 ETH to exchanges due to margin calls, resulting in significant selling pressure.

Key support at 3790 - 3800 broken with volume, triggering programmatic stop-loss “long kill long”; DeFi lending liquidations exceeding $320 million, with ETH accounting for 58%, large whales liquidating causing a sharp drop.

Operational advice: It is possible to chase longs at the current price, with a target to short near 3780.

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