Recently, I've been closely watching the ETH trend, and one detail stands out particularly. The day before yesterday, during the early trading session, it surged from 2926 directly to 2994, looking very powerful. But within half an hour, it turned downward, and now it's oscillating between 2900 and 3000. Is this the main force consolidating and shaking out traders, or is it a typical trap to lure in buyers? I asked several friends this question, and each gave a different answer.

Instead of guessing blindly, it's better to look at the data. My analysis mainly revolves around two perspectives: first, the persistence of large orders during the rally; second, the selling pressure structure during the pullback.

On the day of the surge, I specifically checked the fund flows on mainstream exchanges. Honestly, it was a bit shocking—large buy orders appeared as "instant pulse" moves, with no sustained follow-up funds. In other words, a small amount of capital artificially pushed up the price, creating an illusion of market momentum, but in reality, no one was willing to accumulate heavily at this price level.

Looking at the pullback details, from 2994 downward through 2980, 2950, 2926, each key level was not met with significant support. What should a genuine consolidation look like? Key support levels would see obvious bottom-fishing funds entering, rather than the price dropping like a kite with its string cut. But the current trend is exactly the opposite.

Therefore, this move is very likely a trap to lure in buyers. The crypto market is already unstable at year-end, with everyone aiming to lock in profits. The main force exploits this mindset to execute a scheme—pushing the price higher to attract retail investors, then taking the opportunity to offload. This kind of tactic is quite common in the market nowadays.