2025.11.27

Today, the fear index broke 20, after remaining below 20 for fourteen days, it has now reached an index of 22, but it is still in a state of extreme fear.
The change in the number of ETH held by the top 100 addresses shows that today, inflows exceeded outflows by 200,000 Ether. An interesting point is the change in the trend of holdings, as the number of holding addresses reached 430 million on October 31, 2025, reaching 100%. A week later, the originally upward trend was broken, and before reaching the resistance level, it fell all the way down. On November 25, 2025, a similar situation occurred; although the probability of the Fed cutting interest rates increased to 85%, leading to a deep V reversal in the market, the current rebound has not yet reached the Fibonacci sequence's 0.382 position. Furthermore, as the trading volume has not been released, I have reason to believe that the market will drop back to around 2600 when it reaches the resistance level, and a new market cycle will only begin once the volume is released.