March 8, 2026, 11:00 to March 8, 2026, 11:15 (UTC), ETH fluctuated within the range of 1952.51 to 1974.42 USDT, with an amplitude of 1.11%. The 15-minute period ended with a return of -0.92%. Trading volume briefly increased during this time, on-chain active addresses rose, and market attention intensified, leading to significant short-term volatility.
The main driver of this movement was the U.S. February non-farm payrolls data falling short of expectations, with the unemployment rate rising to 4.2%, which boosted global risk aversion and caused funds to flow into dollar assets. Major U.S. stock indices declined simultaneously, and the overall crypto market cap retreated during the same period, putting downward pressure on ETH. Additionally, ETH’s price broke below the key support level of $1960, reaching a daily low of $1930. The 4-hour RSI weakened, and the MACD showed a death cross, indicating diminishing technical momentum. On-chain monitoring showed some funds flowing into trading platforms during the movement, while some holders took profits or exited to hedge risks.
Meanwhile, major cryptocurrencies like BTC and SOL also experienced synchronized pullbacks, with BTC down 0.68% and SOL down 1.76%, demonstrating sector correlation. The U.S. dollar index rebounded temporarily, further increasing selling pressure on the crypto market. Although there was no concentrated whale sell-off, the overall institutional holding structure loosened, and short-term market sentiment became more cautious.
Market volatility has intensified, and close attention should be paid to support levels between $1900 and $1930, as well as any large on-chain transfers and continuous fund outflows. Short-term risks have increased, and the market may still be driven by macroeconomic data and global sentiment. Users are advised to monitor macroeconomic indicators, U.S. stock trends, and capital flow changes to stay updated with market news.
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