EIP-7702

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According to on-chain data analysis, Abraxas Capital Management currently holds a total contract Position of approximately $672 million on the HYPE trading platform. It is worth noting that all these Positions have adopted a short positions strategy. As of now, the investment institution has achieved a floating profit of approximately $95.18 million. In its short positions, Bitcoin short positions dominate, amounting to approximately $330 million, which constitutes Abraxas's largest single position. This massive short position has sparked widespread attention in the market regarding Abraxas's subsequent investment strategy and market direction assessment. This large-scale short positions layout may reflect Abraxas's cautious attitude towards the short-term prospects of the digital currency market, especially regarding the bearish expectations for Bitcoin price trends.

Bitcoin showed a trend of rising first and then suppressing today, reaching a high of 102,905 points earlier, then entering a volatile phase in the afternoon, and starting to decline significantly in the evening, dropping to a low of around 99,034 points. During the same period, Ethereum reached a high of 2,296 points, then followed Bitcoin down to a dip of 2,156 points. From a technical analysis perspective, Bitcoin has formed a three black crows pattern on the daily chart and has dipped to the important support level of 99,000. The four-hour chart shows that the MACD double lines have plunged below the zero axis, with the volume of the bars accelerating. The one-hour RSI indicator, which has a shorter time frame, shows a value dropping to 28, entering the oversold area but has not yet shown a clear divergence signal, indicating that the current rebound momentum is quite limited. Regarding recent operational suggestions, investors should maintain a cautious attitude and consider setting short positions at high levels. Bitcoin can focus on short opportunities in the 100000-100500 range, targeting the 98500 level; Ethereum can consider short positions near 2220, targeting the 2120 level. In a weak market environment, it is advised that investors avoid counter-trend operations. Only when there are clear reversal signals and the price successfully holds above the support level should adjustments to the operational strategy be considered. In the current downward trend environment, risk control should take precedence, and ensuring the safety of funds is the most important.

The recent price fall of Ether is not an accidental event, but a reflection of the market's operational rules. By continuously following and analyzing market trends, I successfully seized the investment opportunities brought by this wave of adjustment, remaining calm while others panicked and achieving considerable profits. The cryptocurrency market may seem chaotic on the surface, but there are identifiable patterns and rhythms in reality. A successful investment strategy lies in focusing on the segments of the market that one truly understands, rather than blindly following market sentiment. During this market correction, clear analytical judgment has helped us discover value amid volatility, turning crises into opportunities.