Recently, an interesting phenomenon has been observed—the speed of the $ETH waterfall has significantly slowed down. Compared to the downturn in September and October last year, the rhythm is completely different. What does this reflect?

It's simple, retail traders watching the market see a dip and rush to close positions to cut losses or directly chase short positions, without thinking things through. This forces big players to frequently intervene to shake out the weak hands—selling off retail investors during declines, and then enticing those chasing gains to jump in during rallies. Near the critical level of 3000, the tug-of-war has become a common scene.

The problem with retail investors is that they chase short when prices fall and chase long when prices rise, completely lacking a sense of rhythm. The current market trend of $BTC, $PEPE follows the same pattern. In this situation, there will still be significant fluctuations ahead. The key is to figure out whether the moves are driven by the big players or if they are genuine shifts in market sentiment.