Seeing the Fear & Greed Index at only 8, with the market in extreme panic, ETH surprisingly still managed to rise by 1.75% today. The story behind this is quite interesting.

From a macro liquidity perspective, this kind of panic sentiment is often the result of the Federal Reserve's tightening policy transmission. In a high-interest-rate environment, funding costs rise, and risk assets are the first to be affected. But we need to understand that when the fear index approaches single digits, it usually means that bad news has already been priced in.
ETH's slight rebound in such a panic-driven environment indicates a few things: first, institutional funds haven't significantly withdrawn; second, the $2,000 level indeed has strong support. From a global asset allocation perspective, when traditional asset yields generally decline, the long-term allocation logic for cryptocurrencies among institutions remains unchanged.
More importantly, we are in a critical time window. The Federal Reserve's monetary policy cycle typically lasts 18-24 months. If we consider the tightening that started last year, the shift to easing could occur sooner than market expectations. Once global liquidity begins to flow back, the resilience of high-quality assets like ETH will be quite significant.
Of course, there may still be short-term volatility, but from an allocation value standpoint, the current price is not high at all. Market panic is often a good time to position, as long as you have enough time horizon to wait for macroeconomic conditions to change.