$ETH Three days ago, when it was at two thousand four hundred points, I said that ETH would reach the 1's head. As expected, ETH struggled for a few days but eventually fell down. This recent decline in the cryptocurrency market resembles a chain reaction following the drop in precious metals. On the surface, it is due to Trump's nomination of Fed Chair Waller, whose hawkish stance on a strong dollar has raised concerns about capital's worries over interest rate hikes on U.S. Treasuries and weakened demand for gold as a safe haven. However, Waller is nominated by Trump and is constrained by him; as long as Trump wants to push for policies to stabilize the mega base camp, he must vigorously promote interest rate cuts. This spiral downtrend in the cryptocurrency market is ultimately caused by the chain reaction in precious metals and is also affected by the recent sharp decline in U.S. stocks, especially the forced liquidation of whale long positions triggered after the decline, which accelerated this drop. Nowadays, the biggest risk is not the selling by Vitalik or the liquidation of whales like Yi Lihua, but the reduction in BTC holdings by companies like Strategy, which are most affected by market conditions. As long as the decline continues and unrealized losses keep increasing, the company has no room for bond financing, and they can only be forced to sell BTC to cope with financial losses. In short, the current decline has nothing to do with retail investors; it is mainly driven by institutions with a strong purpose, aiming to let some whale long positions continuously cut losses and then pick up low-priced chips. As for when this will end, it depends on at what price these whales are willing to cut losses and exit. Nowadays, the one who can save the cryptocurrency market is ironically Trump. Today, the most important thing to pay attention to is Trump's speech, and I believe he will definitely release a positive attitude towards the cryptocurrency market. After all, he needs to launch stablecoins to maintain the dollar's hegemony, and his family is also deeply involved in profiting through the cryptocurrency market.