Temporarily Safe

This round of decline was mainly triggered by the PPI data explosion, which initiated the drop and also caused high-leverage longs to exit in the short cycle (liquidation, stop-loss), leading to a minor sell-off.

The focus is still on the dynamics after the U.S. stock market opens. This round of ETH's rise has basically seen little in the way of retracement, a brief pullback to clear out long positions may make the trend healthier.

If we can stabilize today, we will continue to look upward.

The plan remains the same: protect 4444. If there is further retracement, we will exit passively. If we stabilize, we will continue to wait for acceleration upward, with the expected target still starting with 5.

One point to note is whether this round of decline will cause temporary panic in ETF funds, leading to capital outflows. However, on the other hand, ETH's micro-strategy will likely continue to buy aggressively, so tonight's U.S. stock market timing is more crucial.