The wall fell and everyone pushed it! Is Ethereum really at a dead end? Is there any chance of a comeback?
The world is always full of ironies: During the bear market, Ethereum performed strongly, and everyone was shouting "Invincible innovation, optimistic about the future." Now that the market is sluggish, everything seems to have gone wrong.
But looking at the current situation, Ethereum’s weekly indicators are significantly oversold! Although I cannot say whether it is the absolute bottom now, it is indeed possible to usher in a considerable rebound.
Judging from historical data, Ethereum did rebound from the bottom after being oversold twice before. Will it be the same this time? We'll see.
Ethereum has been at the forefront of controversy since its birth: from the DAO hacking incident to the failure of DApp verification to the rise of DeFi, every controversy has triggered heated discussions. The frequent occurrence of these disputes just illustrates the core position of Ethereum in the Web3 and encryption market. It has long become an indispensable backbone.
Today, the market's weakness is mainly due to the liquidity crunch caused by the US dollar interest rate hike. Even the once-hot AI unicorn companies are facing the risk of bankruptcy due to liquidity problems. Compared with the bear market of the past two years, the current crypto market situation has improved significantly.
However, the influx of new funds has been limited due to a lack of liquidity. Although Ethereum has received professional recognition from "old money", Bitcoin's concept of digital gold is more in line with the current market environment. At the same time, the outbreak of the Meme trend has also attracted limited new funds, making Ethereum face greater challenges.
Whether it is a recession in market conditions or a liquidity crunch, these difficulties will eventually pass. The innovative applications of encryption technology and Web3 will also accelerate their popularity, and everything will be back on track.
