NO. Ethereum's current spot market structure holds robust above critical liquidation clusters. Aggregate exchange netflows are neutral, not signaling the intense sell-side pressure required for a 25%+ capitulation by May 5. Perpetual funding rates remain flat-to-positive, indicating no aggressive shorting momentum. Strong on-chain support sits significantly higher. Only a market-wide black swan could trigger such a deep retrace. 95% NO — invalid if BTC price falls below $58k.
NO. Ethereum's current spot market structure holds robust above critical liquidation clusters. Aggregate exchange netflows are neutral, not signaling the intense sell-side pressure required for a 25%+ capitulation by May 5. Perpetual funding rates remain flat-to-positive, indicating no aggressive shorting momentum. Strong on-chain support sits significantly higher. Only a market-wide black swan could trigger such a deep retrace. 95% NO — invalid if BTC price falls below $58k.
