Ethereum is fiercely contesting the important threshold of $4200. The current market trend is extremely volatile, with pumps happening like a hot knife through butter, and falls occurring like a swift current. Recently, the market has experienced a process from crazy shorting to continuous downward movement and then to an explosion of long orders. The $4200 level has become the focus; if it can break through to above $4700, it could trigger $3.1 billion in long and short order liquidations; while if it falls back to around $3900, it could lead to $1.7 billion in long order liquidations.

The current market is filled with panic, and the number of Ethereum staking exit queues remains high. However, it is noteworthy that MicroStrategy, whale investors, institutions, and U.S. stock funds are continuously buying in this range. Despite poor market performance in the short term, these signals still support maintaining an optimistic attitude towards Ethereum and the overall market for the second half of the year. However, we need to closely monitor the data trends in the next two days to confirm whether there will be a final bearish impact.
The Federal Reserve meeting minutes will be released tomorrow at 02:00. We need to focus on the following aspects: First, this is the first time in over 30 years that two officials have voted against, as they lean towards a 25 basis point rate cut, while the market expectations range between 50 to 75 basis points. Second, whether internal conflicts have intensified under the ongoing pressure from Trump and the context of re-nominating candidates for the Federal Reserve Chair. Finally, we need to pay attention to possible rate cut signals in September.
The 4-hour chart for Bitcoin shows a support level at $112,889 and a resistance level at $114,951. The support level for Ethereum's 4-hour chart is $4,139, with a resistance level at $4,265. The daily fear index is 45, indicating a fear zone, with a 4-hour long-short ratio of 45.3% to 54.7%.
Today's hot news includes: Bitwise predicts that Bitcoin will outperform traditional assets in the next decade under reduced volatility; Tether Treasury has added the minting of 1 billion USDT on the Ethereum network; Analysts expect Powell to potentially avoid giving a clear signal on a September rate cut in the upcoming Jackson Hole speech; 69 Ethereum treasury companies have surpassed 4 million ETH holdings, with the top three companies holding over 10 billion USD in ETH.
#ETH Hits New ATH