Bull Market Comes to a Sudden Halt? Market Faces a Tipping Point Ahead of Jackson Hole

In this wave of decline, some traders’ bullish sentiment has begun to turn bearish.

According to a previous report by Zombit, Andrew Kang, co-founder of Mechanism Capital, pointed out that the Ethereum market is in a state of high risk, with a potential liquidation wave amounting to as much as $5 billion expected in the short term. Prices may even dip into the range of $3,200 to $3,600. Meanwhile, the exit queue for Ethereum staking mechanisms has accumulated 885,000 ETH (approximately $3.8 billion) waiting to be withdrawn, raising concerns in the market about forced sell-offs.