Recently, the cryptocurrency market has once again become the focus of investors' attention. Ethereum (ETH) has fallen back after reaching a high of $3850, behind which there seems to be a carefully planned capital operation.

Analysis shows that within the range of $3850 to $3915, a total of 46,800 bitcoins (approximately $170 million) suddenly appeared in large sell orders. This unusual phenomenon has sparked widespread speculation among market participants.

Some believe that this may be related to the vote that SBET company is set to hold on July 24. This vote will determine whether to issue an additional 5 billion dollars in stock to purchase Ethereum. Therefore, the current price suppression may be a strategy employed by certain major institutions to accumulate at lower levels.

As the price of Ethereum fell below $3600, these large sell orders were immediately withdrawn. This phenomenon further corroborates the above speculation. If the SBET issuance plan is ultimately approved, it is expected to bring significant benefits to Ethereum.

The current cryptocurrency market is at a critical juncture, where changes in regulatory policies and the movements of institutional investors may significantly impact the market. Investors should closely monitor market dynamics and carefully assess risks and opportunities.

It is worth noting that, despite the speculative behavior in the market, rational investment remains key. For individual investors, when making investment decisions, it is important to comprehensively consider market factors and avoid blindly following trends.