Today, Ethereum directly broke below 3000, touching a low of 2865, with a 24-hour decline of over 8%. The total liquidation on the network reached $1.064 billion, approximately 180,000 traders faced forced liquidation, with long positions accounting for up to 90%. Market panic sentiment is spreading.

But there is a detail worth noting: while panic selling is happening, major funds have quietly started accumulating. Within an hour, $700 million in funds were absorbed at low levels, and some leading compliant platforms and institutional investors today aggressively bought up 12,000 ETH. This is clearly a wave of capital transfer driven by market panic.

From a technical perspective, after the bottoming out, there have been two consecutive small bullish candles, with trading volume shrinking accordingly. The signs of exhausted selling pressure are obvious, and a recovery rally could start at any time. In terms of intraday trading, it is recommended to watch for bullish opportunities around the 2920 level.