In the live broadcast of the language community: the first insertion of favorable policies! ETH drops 5%, 3500 becomes a life and death level? Best spot for live streaming disassembly

Click on the link to enter Tencent Meeting: https://meeting.tencent.com/p/9850662513 On July 24th, Ethereum (ETH) experienced a rare single day drop of the year, with prices plummeting rapidly from around $3750 to a low of $3525, a drop of over 5.2% within 24 hours, far exceeding Bitcoin's decline during the same period. This sharp decline not only swallowed up most of the gains since July, but also pushed the key psychological and technical support level of $3500 to the edge of the cliff, triggering deep concerns in the market about the "end of the bull market". The trigger for the sharp decline: the resonance between the whale sell-off and the exchange rate collapse ETH/BTC exchange rate collapse: ETH/Bitcoin exchange rate plummeted by over 3% within 24 hours, dropping to 0.03041, hitting a new low since 2020. This indicates that funds are accelerating their withdrawal from Ethereum and shifting towards Bitcoin or other altcoins, severely undermining the market's short-term confidence in ETH. - Concentrated selling pressure of giant whales: On chain monitoring shows that anonymous large investors have sold 8000 ETH (worth over 30 million US dollars) in a single transaction. Such "strategic profit taking" has emerged intensively in recent times, exacerbating the intraday liquidity crisis. Leveraged Clearing Avalanche: Within 24 hours in the derivatives market, the ETH contract's liquidation amount surged to $362 million, with short positions accounting for 62%. The consecutive strong flattening of high leverage long positions became a downward amplifier. $3500: The life and death line of bulls and bears is facing a test Technical analyst emergency warning: $3500 is the last line of defense for ETH to maintain its bull market structure. If the daily closing price falls below this level, it may trigger algorithmic trading to follow suit and sell, leading to a drop of $3330 or even $3130. This price point is given a triple meaning: 1. Psychological support: The cost center for institutional ETF positions, falling below it may trigger programmed stop loss; 2. On chain cost line: According to the Glassnode heatmap, $3525 is currently a high concentration area for most retail investors, and breaking the level will lead to panic selling; 3. Long short watershed: The NUPL (unrealized gains and losses) indicator shows that ETH has entered the "faith collapse" critical zone, with 3500 becoming the last faith of bulls. Is the bull market really over? Institutional consensus: A pullback is a good opportunity for layout Despite the short-term risks, many institutions still adhere to the core judgment that the bull market is not over: - Demand absorption and selling pressure: Glassnode on chain data shows that new funds are continuing to sell ETH, and exchange reserves have dropped to 19.7 million, indicating that off exchange fundraising has not stopped; Technical oversold rebound: ETH's daily RSI fell below 35, entering the historical oversold range, with an average rebound of 18% in the past three years after the signal appeared; The upgrade narrative has not been fulfilled: The Pectra upgrade in the third quarter is approaching, and the optimization of sharding and account abstraction may trigger a new hype cycle. The market is like a thunderstorm in summer, washing away restlessness and seeing clear skies. If $3500 remains stable, it will accumulate stronger momentum for ETH to impact $4000 or even $5000- the sharp decline in a bull market is often the most vicious reshuffle before a big rise. Current investors need to focus on two points: the daily defense result of $3525 and the shift in market risk appetite after the US CPI data. Once stabilized, the right-wing counterattack may be more intense than expected Operation suggestion: BTC 118500 long, first target 119500, second target 120500; ETH 3580 long, first target is 3630, second target is 3690. Join the language community communication group to obtain more services 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system- 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Every day, there are teachers in the group who provide precise positioning to answer questions and offer free guidance. Tencent Meeting Live: 985-066-2513 DingTalk Group Number: 120320009032 Every day, there are teachers in the group who arrange precise positioning to answer questions and provide free guidance Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.