An unverified rumor has completely stirred the nerves of the crypto market.

The news regarding the potential departure of Federal Reserve Chairman Powell suddenly escalated this morning, causing market sentiment to shift instantly from optimism to panic mode. The sell-off came without warning, putting pressure on major cryptocurrencies, and the speed of capital outflow caught many off guard.

ETH played the role of a "disaster zone" this time. The price started to lose support from above $3000, plummeting all the way down to $2844, with a maximum single-day decline of nearly 7%—this crash was not due to a technical breakdown, but rather a chain reaction triggered by news. There was no buffer zone, no support level, and the market expressed panic in the most direct way.

Ultimately, this wave of decline has exposed the vulnerability of the crypto market. When rumors of changes emerge among heavyweight players in traditional finance, funds instinctively choose to avoid risks. The speed at which the bulls collapsed indicates that many investors' positions simply cannot withstand the impact of sudden events.

Powell's stance on monetary policy has always been an important reference point for market pricing. Any rumors about his retention or departure could trigger sharp fluctuations in liquidity expectations. Although this is just a rumor this time, the market has already cast a "vote of confidence" with real money—better to mistakenly kill than to be trapped.

The market always moves forward in the game of speculation. Technical analysis can help you determine trends, but in the face of sudden news, emotions often become the dominant force. In the current environment, position management and risk hedging are particularly crucial.