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ETH falls below 4300 USD, market fluctuations trigger a rise in the panic index!!!
The market shows that ETH has fallen below 4300 USD, currently reported at 4299.88 USD, with a 24-hour decline of 0.19%. The market fluctuation is significant, please ensure proper risk management.
This time ETH has fallen below 4300 USD, and the panic index continues to rise. According to the latest data from Coinglass, ETH falling below 4300 USD will trigger a long liquidation of 2.491 billion USD. If the price continues to drop to 4072 USD, the liquidation scale will soar to 2.94 billion USD, potentially triggering a “death spiral” type crash.
From a technical analysis perspective, the daily Relative Strength Index (RSI) of ETH has dropped to 33, which is in the neutral to bullish range. This indicates that the market may be gradually weakening in its downward momentum during the pullback process. Additionally, some institutions and whale investors may choose to enter the market and buy the dip when prices fall to a certain level, providing support for the market. Institutions like BlackRock and Fidelity have continued to accumulate through the ETH spot ETF, with a net inflow of over $1.5 billion in the past 24 hours. On-chain data shows that the holdings of whale addresses have increased against the trend by 3.2%, with costs concentrated in the $4200 - $4300 range.
In the short term, investors still need to closely monitor market dynamics and cautiously respond to the significant fluctuations in ETH prices.