#ETH走势分析 The face of the crypto market changes unexpectedly. Just before, ETH was still shouting to surge to 3500, but then it dropped below 3200, with the 24-hour increase shrinking from double digits to just 4.45%. Today, let's break it down and discuss what's going on with this round of Ethereum's pullback and whether it's time to buy the dip or catch the falling knife.
First, let's take a look at the current market situation. This time, ETH's movement truly caught people off guard—at the beginning of December, it just bounced back from around 2700 USD, surging over 7% in a day to re-establish above the 3000 mark. Many thought the bull market was back, but before it could stabilize at 3200, it turned around and started to drop, with the short-term rebound being abruptly halted.
The 3200 USD level is not simple. This is an area of previous concentrated trading, where a large amount of trapped positions has piled up, and as soon as the price approaches, there are people eager to cut losses and escape, leading to an immediate sell-off pressure. What’s worse is that the trading volume during this rebound simply hasn’t kept up, making the rise seem hollow, and a pullback is naturally not surprising.
The core reason for this drop is actually a combination of "institutional selling + technical breakdown." On-chain data shows that in November, Ethereum ETF saw a net outflow of over 728 million USD, and big-name investors have been reducing their ETH holdings, with the withdrawal of institutional funds directly affecting market sentiment.
Even more ruthless, some early players are also cashing out like crazy. An old player from the Ethereum ICO period recently directly sold 20,000 ETH, cashing out nearly 58 million USD. Such low-cost chips crashing the market is simply adding insult to injury for an already fragile market. The technical indicators are also not looking good, with various indicators emitting warning signals...$ETH
