The sharp fall at eight o'clock this morning really caught a lot of people off guard. Not only were the long positions swept out, but the market sentiment instantly turned to panic—there was almost no resistance on the way down, and it felt like big funds were deliberately letting the price dip, just waiting to pick up stocks at low levels.

But don't be too pessimistic. The Ethereum network upgrade is imminent tonight, and with the expectation of interest rate cuts still in play, there is a high probability of a rebound and correction on the technical side, with a target level around 3100. After this operation, both long positions and short positions are likely to have to pay some tuition fees 😉