The high-level sell-off of Ethereum with higher trade volumes is the result of a shift in macro policies, on-chain de-staking pressure, high leverage liquidations, and capital diversion resonance. Short-term fluctuation risks still exist, but in the medium to long term, attention should be paid to the potential support from liquidity improvement after the interest rate cut cycle begins, as well as the resilience of the Ethereum ecosystem's fundamentals. Investors should be wary of leverage risks, set reasonable stop losses, and pay attention to the defensive strength of key support levels (such as $4220 and $4000). #ETH创历史新高 #鲍威尔鸽派发言 #Gate Alpha空投FST