Ethereum is currently sitting at $2,220. And the picture isn't pretty. Those who bought into the supercycle hype back in 2026 are now sitting on heavy losses. The reality check is hitting hard. The hard truth? ETH still has room to fall lower. Here's the bigger picture: the entire risk-on trade remains broken. It's not just crypto. It's everything speculative. And the key catalyst for a turnaround? The Fed changing its policy stance. But here's the thing — the Fed isn't pivoting anytime soon. Not in the near term. Not until the data forces their hand. Until then, we're in a waiting game. Patience and capital preservation matter more than trying to catch a falling knife. Stay sharp out there. The market rewards discipline, not hope.