ETH just finished an eight-day winning streak with a strong surge, but was then knocked down by hawkish rate expectations, nearly turning into a seven-day decline in a pullback.

This intraday fluctuation is hardly a correction at all; there are probably still 1-2 days of sharp, volume-driven sell-offs to come.

The current small decline is just the beginning; tomorrow is likely to see an even more intense downward move.

Only when prices fall to the point where market panic takes over and no one dares to buy the dip will a true bottom in the stage-wise cycle appear.