ETH losing the $2,000 level is a pretty important psychological breakdown, especially with traders still aggressively buying dips. When retail keeps stepping in too early during a downtrend, markets usually need one more painful flush before a real bottom forms. What worries me is rising open interest while price keeps falling. That often means fresh shorts are entering, but it also creates the setup for a violent short squeeze if sentiment suddenly flips. I still think Ethereum's long-term fundamentals remain strong, but short term the chart doesn't look healthy yet. ETH probably needs to reclaim $2,150 before confidence really comes back. Personally, I wouldn't rush heavy entries here. Better to stay patient and wait for either capitulation or a stronger recovery confirmation.