According to ChainCatcher, Bit Digital CEO Sam Tabar posted on the X platform that Ethereum's recent price action is more like a "value reset." The market experienced a rapid revaluation after a large influx of leverage, and the wave of liquidations left obvious traces of liquidation. The squeeze from both long and short positions amplified the volatility.
Now that the market has stabilized, the price of Ethereum has returned to the structural support range of $1,800 to $2,100. At present, there has been no substantial change in the fundamentals of Ethereum: stablecoin settlements are active, rollups are still pegged to the mainnet, and Ethereum is still the first choice in programmable settlement scenarios that need to meet institutional risk reviews.
Market bottoms are usually only confirmed in hindsight, but this event shows how leverage can quickly distort market trends, while Ethereum's long-term value and fundamentals remain solid.
