The good news is that Bitmine, the largest holder of Ethereum, has increased its holdings by 8,873,000 USD today, bringing its total to 3,967,000 units, with a cost price of 3,906 USD. Based on the current price of 2,922 USD, the unrealized loss exceeds 4 billion USD. Despite the significant loss, as long as the price increases by more than 35%, it can break even, which is not difficult.

As for altcoins, there's not much to say. Bitcoin and Ethereum are the same; they are not doing any better. The sentiment for altcoins is even worse, with low trading volumes. Some coins have temporarily stopped falling after hitting key support levels, indicating that retail investors have mostly sold off their holdings. What remains are the strong-handed players who can’t sell either. Moving forward, we can only wait for the market sentiment to improve before they rebound.