Hey everyone, take a look at this ETH chart! From the end of September to the beginning of October, the price was just hovering slightly above $4K before dropping suddenly. Especially that crash on October 11, it was indeed a classic "account wash" moment, dropping straight from over $4K to nearly $2.5K. Many must have turned pale!
But it is quite stubborn, and it managed to crawl up. For the whole month of October and November, it kept climbing steadily, surpassing the old peak, almost $5K! During that time, open interest was constantly green, proving that the long team was getting in like ants, everyone was hopeful.
Well, what about the beginning of December? Going downhill again, although not as drastic as in October, but still gradually retreating. Now it's hovering just below $3K, around $2.7K-$2.9K. Open interest has occasionally shown slight red, but mostly remains green, yet the price keeps sinking.
Alright, it's cooling down now. We need to be careful this time. It seems we have to wait for clearer signals before daring to make large purchases. Let's just observe slowly, folks!
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