Today the market is flooded with rumors: the Bank of Japan suddenly raised interest rates, the Fed Chair might be replaced, and a certain big shot is set to make a major announcement at 3 AM tomorrow—just hearing all this gives me a headache.

But I think the real reason for the sell-off might be simpler: a certain crypto whale has been aggressively adding to their ETH longs. This guy’s moves are honestly… hard to describe.

From a technical perspective, Ethereum’s daily chart still looks poised for further downside. The 4-hour timeframe shows that selling momentum hasn’t fully played out yet. Watch the 2850-2900 resistance zone above—if price fails to break through on a rebound, it’s likely we’ll see more downside.

Luckily, I closed my longs in time; otherwise, I’d be stuck at the top again. This market is really nerve-wracking right now.