Ethereum's "Four-Month Panic": From 90% Profit to Halved Value, Then a Rapid Rebound to 60%! What is the Market Brewing?
Starting in December 2024, Ethereum experienced a round of "bloodbath" adjustments, with the proportion of on-chain profitable addresses plummeting from over 90% to 32% in April of this year. This marks one of the most extreme fluctuations in investor sentiment for ETH since 2017—almost no one managed to escape unscathed.
However, just a month later, the situation took a sharp turn back up: as of today, on-chain data indicates that nearly 60% of ETH holders have once again "returned to the green zone," and this rebound has exceeded many people's expectations.
The signals released behind this V-shaped comeback cannot be ignored:
Market confidence is warming: As the leader in smart contracts, ETH's rebound often has a "leading" nature, and this rebound may indicate that mainstream capital is re-entering the market;
Significant chip replacement: Long-term profit takers are exiting, while bottom feeders are entering the market, forming the "new cornerstone" of a new bull market;
Severe volatility indicates a turning point: Such a level of emotional switch is often characteristic of a critical point in the cycle, and ETH has a high probability of having exited its phase bottom.
However, the SEC's attitude towards the ETH ETF remains a risk variable; any unexpected events could once again disrupt sentiment.
