Recently, $ETH has frequently appeared the "painting door" phenomenon and continued to conduct shock operations. There are two main purposes. One is to clean up the chips in the market through violent price fluctuations and eliminate investors with weak will; the other is to conduct a test operation to test the loyalty of the remaining chip holders to avoid investors from fleeing in the subsequent pull-up process, which will put pressure on the market.

From the perspective of market performance, these operations are reflected in the sharp decline in chip trading volume. At the same time, funds from ETH ETF continue to flow into the market, and chips are constantly changing hands. It is certain that these new funds do not come from retail investors. #ETH