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In the past 7 hours, the three major Ethereum whale addresses have collectively sold 5657 ETH (approximately $13.4 million), resulting in a cumulative loss of up to $1.928 million. Among them, the giant whale '0xb1c... a108C', which held the position for six months, sold 1440 ETH at a price of $2392, resulting in a single loss of $1.392 million (cost price of $3359.3). The other two addresses lost $330000 and $206000 respectively due to short-term operational errors.
Market chain reaction
This sell-off directly impacted market confidence, causing ETH prices to drop to $2263 at one point, a drop of over 6.5% in 24 hours. Middle East geopolitical risks escalate synchronously - Trump warns Iran will face "stronger military retaliation", global risk assets are collectively under pressure: the S&P 500 index fell 0.8%, Nasdaq technology stocks fell 1.1%, panic selling surged in the cryptocurrency market, and ETH trading volume on Binance and Coinbase surged 18% to $120 million.
The long short game is heating up
Bears dominate: panic spreads, leading to a 24-hour sell-off of $675 million across the entire network, with ETH derivatives accounting for over 40% of the total liquidation;
Bullhead counterattack: A certain institution's giant whale bought 13498 ETH (worth over 30 million US dollars) against the trend, and BlackRock's previous position of 750 million US dollars in ETH also showed that long-term confidence has not wavered.
Technical and ecological concerns
ETH is temporarily holding the key support level of $2200, and the 4-hour chart RSI is approaching 30 and entering the oversold range. If the geopolitical crisis eases, it may trigger a technical rebound. But the deeper problem lies in the decline of ecological competitiveness:
Pledge income falls below 3%: annualized yield drops to 2.987%, far lower than SOL (7.54%) and DOT (11.82%);
DeFi diversion of funds: AAVE and other lending protocols offer a 4.63% return, attracting users to turn to on chain interest bearing tools and weakening the attractiveness of protoplasmic collateral.
The survival logic in the eyes of the storm
Currently, ETH is undergoing a liquidity wash, rather than the end of a bull market. The essence of whale meat harvesting is the pain of market clearing, and historical data shows that large-scale loss selling is often accompanied by bottom signals. However, recovery requires two major conditions:
1. Geopolitical risk easing: If the Middle East conflict escalates, it will continue to suppress risk assets;
2. Pledge ecological reform: enhance revenue competitiveness or integrate DeFi advantages, otherwise capital outflows will be difficult to reverse.
Teacher Dabin's reminder: $2200 has become the life and death line for long and short positions, and falling below it may trigger algorithmic selling; If stability is maintained and there are no new conflicts in the Middle East, the oversold rebound target is set at $2450. Closely monitoring the signal of the Federal Reserve's policy shift - the expectation of interest rate cuts may become a key catalyst for ETH reversal.
Operation suggestion:
BTC 102000 long first target to watch 103200 second target to watch 104600
ETH 2280 long. First target is 2350. Second target is 2430
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Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.
