Question: Have you ever wondered if every market movement is actually driven by the manipulative actions of big funds?

Last week, Ethereum broke through $3100, with $1 billion flowing in within 24 hours, causing the CVD index to spike sharply. What seems like a calm market is actually undercurrents of turbulence. What do these signals really mean? To put it simply, it indicates that large funds are starting to take real action.

Let's first look at this key indicator, the CVD index. Many people get excited when they see it rise but don't fully understand what it signifies behind the scenes. The recent surge in CVD has two obvious characteristics: a short duration and a steep increase. This is not the behavior of retail investors slowly bottom-fishing; rather, it shows organized large capital actively "attacking." When combined with leverage data, it becomes clear—they are entering the market with borrowed funds to force a short squeeze—each step with a clear purpose.

So, what is their specific operational path?

First, they identify targets through data analysis: shorts are concentrated in the $2900-$3000 range, with heavy positions. They start building positions gradually, making small multiple purchases to steadily push the price higher.

Second, as the price approaches the critical resistance at $3000, a massive influx of funds suddenly hits the market. Breakout! The resistance level is shattered, triggering stop-loss orders from many short positions.

Third, shorts are forced to cover at high levels, further driving up the price. Retail investors see the upward momentum and follow suit, causing market enthusiasm to soar—this is exactly the atmosphere large funds are waiting for—they begin slowly unloading at high levels, absorbing retail orders.

The entire process resembles a carefully orchestrated hunt.

My judgment is: in the short term, Ethereum will remain volatile within the $3100-$3200 range. Large funds need time to unload; they won't dump everything at once but will sell gradually and discreetly, maintaining the apparent upward trend to attract latecomers. For retail investors, be cautious at this level, as the price you buy at might just be the price others are selling at.