$ETH Whale BlackRock aggressively bought 9,077 ETH! Yet the price fell below 1,900—are they accumulating or catching the falling knife?
When the market lacks direction, the easiest way to lose money is not to misjudge the direction, but to make a move out of impatience!
I. On-chain data!
1. Over the past 24 hours, $234 million in positions were liquidated across the entire network, including $108 million in long positions and $126 million in short positions
2. For ETH, $10.34 million in long positions were liquidated, versus $28.94 million in short positions—the shorts took a bigger beating, showing that yesterday’s rebound indeed hurt quite a few short sellers
3. In addition, 9 Ethereum ETFs recorded net inflows of 4,116 ETH today, with BlackRock alone seeing an inflow of 9,077 ETH. Institutions are buying, but the price has not moved, indicating that someone is also absorbing the sell-side pressure
II. Technical data!
1. In terms of volume: both the fast and slow lines are above the zero axis—bulls still have the upper hand, but the histogram has already begun to shrink. The trend remains, but its momentum is fading!
2. The four-hour structure is relatively strong, but the one-hour and daily charts remain range-bound. When multiple timeframes are in conflict, it is easiest to get whipsawed
3. Keep the key levels in mind: resistance at 1,910–1,913 is the first hurdle, while 1,920–1,924 is the second; support at 1,898 is the key one-hour support, followed by 1,892–1,893
III. News and market data!
1. The Ethereum community is currently discussing the EIP-8363 proposal, which would gradually reduce and burn validator rewards as the staking ratio rises—supporters say it could reduce dilution, while opponents worry about its impact on the staking ecosystem.
2. In addition, starting today, Grayscale will distribute the staking rewards from Ethereum and Solana to shareholders in cash on a quarterly basis
3. In DeFi, the lending share has risen to 67%. This is positive in the long term, but has limited impact on the short term.
To be honest, my personal view is that ETH is currently stuck in an awkward position where it can neither rise nor fall. In this kind of market, chasing the rally can leave you trapped at the top, while selling into the drop can mean selling at the bottom!
I am Tang Monk, providing top-tier technical support exclusively to people with vision and ambition!
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