After ETH fell below $2,100, the market finally started to doubt: Has the bull market gone too far?

The moment ETH dropped below $2,100, the entire market atmosphere suddenly became very much like a classroom before final exams.
No one was speaking,
but everyone knew something was wrong.
In the past few months, everyone had been immersed in illusions of a "ETF bull market," "institutional entry," and "BTC starting at 2.34M."
Then suddenly, the market turned around sharply.
BTC fell below 77K, ETH lost the $2,100 support, and altcoins directly entered a "free fall" mode.
Many retail investors finally began to realize:
Even the bull market can fall.
Even more terrifying, analysts pointed out that there might be a potential selling pressure of 34,000 BTC in the market.
What does that mean?
It means there are people ready to dump at high levels at any time.
And to push back toward 80K, the most critical thing is that spot funds must re-enter the market.
But now, the problem is awkward:
Retail investors have no money left,
institutions are watching from the sidelines,
ETF capital inflows are also beginning to slow down.
So the market has entered a classic state:
Everyone is shouting long-termism,
but in practice, they are frantically setting stop-loss orders.
However, just as emotions collapse, whales start secretly making moves.
NEAR suddenly was bought up by a whale for 2.34 million tokens over 10 hours.
Why NEAR in particular?
Because the AI narrative is starting to warm up again.
What does the market like most now?
It’s not fundamentals,
but a sense of “future potential.”
NEAR happens to have multiple story tags like AI, public chain, and ecosystem expansion.
And the hype is even more outrageous.
OG whales continue to add positions, holding over $11 million worth.
What does this indicate?
It shows that the big funds haven't completely exited.
They’ve just shifted from the “big coin sentiment game” to the “altcoin selection game.”
So now, the most dangerous thing in the market is not the decline.
But when you panic and cut losses, whales are quietly building positions at the lows.
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