#加密市场小幅下跌 Today (April 9), Ethereum (ETH) showed a rally then a pullback, with a slight decline (about -1%), driven by a combination of macroeconomic outlook shifts, technical profit-taking, and capital divergence.

1. Why the surge in the morning

1. Geopolitical easing + risk appetite rebound
Expectations of a ceasefire negotiation between the US and Iran increased, oil prices plummeted, the US dollar weakened, and global risk assets (US stocks, cryptocurrencies) rose across the board. ETH briefly surged above $2,250.

2. Institutional ETF positive news
BlackRock’s ETH spot ETF launched, and Morgan Stanley’s Bitcoin ETF saw its first-day purchases, reinforcing expectations of long-term capital inflows.

3. Technical breakout
Daily chart stabilized above $2,100, indicating an obvious bullish trend, triggering chasing buying.

2. Why the decline in the afternoon

1. Macro outlook tightening (main reason)

◦ Federal Reserve minutes lean hawkish: officials remain open to rate hikes, with expectations of rate cuts cooling.

◦ US CPI data due tomorrow (4/10), markets preemptively hedge risk and take profits at high levels.

◦ Middle East tensions re-emerged, oil prices rebounded, suppressing risk assets.

2. Technical factors: resistance + overbought conditions

◦ Strong resistance between $2,250–$2,280, with heavy sell orders emerging.

◦ 4-hour bearish divergence, KDJ indicator turning at high levels, triggering short-term correction.

3. Capital flow: ETF outflows + fund reductions

◦ ETH spot ETF continues to experience net outflows (institutions selling into rallies).

◦ Ethereum Foundation sold 5,000 ETH, adding to bearish sentiment.

3. One-sentence summary

Short-term: macro tightening expectations + technical resistance → correction;
Mid-term: daily upward trend remains intact, with strong support at $2,130, and the direction will be decided after CPI data.