#美联储重启降息步伐 $BTC ETH's recent price action is quite interesting—a technical rally while capital is pulling out, a classic case of fire and ice.

First, the good news. After the Fusaka upgrade went live on December 3, Layer 2 settlement efficiency soared, slashing node costs significantly. The data tells the story: network TVL rebounded 15% in two days, and small wallet activity spiked 45%. Vitalik also floated a gas fee adjustment proposal, and the term “supply shock” is gaining traction in the community again. On the ecosystem front, there are new developments—Ondo Finance launched a tokenized US stock ETF on the ETH chain, and in Europe, WisdomTree’s staking fund went live, drawing in cross-continental capital.

But the ETF numbers aren’t as pretty. Last Friday alone saw $75.2 million in outflows, with a total of $1.4 billion evaporating in November—institutions are clearly waiting on the sidelines. However, BlackRock bucked the trend with a $28.4 million buy, and BitMine snapped up a whopping $199 million in ETH over two days(now holding 3.08% of circulating supply)—are whales quietly accumulating?

📉 On the charts, current price is $3,052.91, down 2.8% in 24 hours, with trading volume shrinking 10.6% to $22.7 billion. Weekly gains barely hold at 1.1%, but the market sentiment index has dropped to 23(extreme fear zone). Technical indicators don’t look great: RSI is wobbling at a neutral 46.29, and the MACD death cross has already formed. The key is the $3,000 support level—if it holds, a push to $3,400 is possible; if it breaks, we could be heading for $2,800 support.

My personal view? If $3,000 holds, Fusaka’s technical boost could drive prices to test the $3,900 area. Combined with the current 5-8% staking yield, a long-term position is worth considering, but set strict stop-losses—hawkish Fed comments could crash the market at any time. Signs of institutional accumulation are getting clearer, but in the short term, keep an eye on ETF capital flows.

⚠️ Reminder: This is just my personal review. Make your own market judgments—don’t go all in. $ETH $BNB