That plunge in the middle of the night came out of nowhere. The 81,000 and 2,400 levels were both breached almost at the same time.
Major cryptocurrencies weakened across the board, while the Nasdaq also widened its losses to 2%. Just a few days ago, people were talking about things “stabilizing”—and now several key levels have all turned lower. The triggers aren’t hard to find: inflation is still running hot, oil prices just surged in a single day, and the dollar is turning back up. Taken together, they’re starting to shake the market’s optimism that rate hikes have peaked. The smoother the rally was before, the faster the pullback tends to be.
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What’s striking is that this all happened in the middle of the night, when things should have been calmest. Asia had just gone to bed, and Europe and the U.S. were still asleep. When order books are thinnest, volatility can swell more easily, and stop-losses can get triggered one after another. So even if the drop doesn’t look huge on paper, it can feel downright frightening.
What’s more important to watch is the potential landmine below Ethereum. Some analysts say that if it falls below 2,300, a large number of leveraged long positions could be forcibly liquidated. At times like this, prices don’t usually drift down gradually—they hit a certain level, then liquidation orders pull them sharply lower. That’s why 2,300 matters more than 2,400.
My take is that this looks more like a correction to the optimism of the past few days than a trend reversal. But that depends on liquidations staying under control. Once a cascade of liquidations gets going, fundamentals can’t stop it.
So here’s the question: was this late-night plunge just a shakeout during the rally, or is a downtrend only just beginning? If Ether hits 2,300, do you think buyers will step in to scoop up the dip, or will it trigger a chain of liquidations? Which side are you on?
Major cryptocurrencies weakened across the board, while the Nasdaq also widened its losses to 2%. Just a few days ago, people were talking about things “stabilizing”—and now several key levels have all turned lower. The triggers aren’t hard to find: inflation is still running hot, oil prices just surged in a single day, and the dollar is turning back up. Taken together, they’re starting to shake the market’s optimism that rate hikes have peaked. The smoother the rally was before, the faster the pullback tends to be.
👉 关注我，点击进入聊天室，学习更多策略
What’s striking is that this all happened in the middle of the night, when things should have been calmest. Asia had just gone to bed, and Europe and the U.S. were still asleep. When order books are thinnest, volatility can swell more easily, and stop-losses can get triggered one after another. So even if the drop doesn’t look huge on paper, it can feel downright frightening.
What’s more important to watch is the potential landmine below Ethereum. Some analysts say that if it falls below 2,300, a large number of leveraged long positions could be forcibly liquidated. At times like this, prices don’t usually drift down gradually—they hit a certain level, then liquidation orders pull them sharply lower. That’s why 2,300 matters more than 2,400.
My take is that this looks more like a correction to the optimism of the past few days than a trend reversal. But that depends on liquidations staying under control. Once a cascade of liquidations gets going, fundamentals can’t stop it.
So here’s the question: was this late-night plunge just a shakeout during the rally, or is a downtrend only just beginning? If Ether hits 2,300, do you think buyers will step in to scoop up the dip, or will it trigger a chain of liquidations? Which side are you on?