Can Ethereum hold on? The key is to look at last night's number.

At 4:30 p.m. EST, the Fed threw out balance sheet data. This number directly determines how the crypto market will go next.

Let's talk about three possibilities first:

The balance broke through 6.6 trillion yuan? Bitcoin and a number of altcoins will most likely be smashed. The capital side has tightened, and the currency circle has been the first to suffer.

Stuck between 6.5 and 6.6 trillion? Sideways continues. The long and short are stalemate, and we have to wait and see.

What if it falls below 6.5 trillion yuan? That may not be a simple pullback, systemic risk is coming.

Now global funds are staring at this BALANCE data. What does Powell mean, the data will speak. The market has been tense for several days, just waiting for this moment - either break through or collapse, there is no middle option.

ETH is standing on the edge of the cliff now, whether it can be stabilized or not, we will see tonight.