Why is $ETH's new high so important to the altcoin market?

1) As a leading project of technical narrative, the return of market confidence in the technical narrative of the altcoin market must be based on the market's re-trust in ETH's technical roadmap and the vision of product protocol application landing. Ethereum, which has long suffered from low prices, can only rekindle its confidence in technical narrative leadership with new high sentiment;

2) ETH produces more than just a single technical narrative project. The technical logic connection between its large ecological projects, TVL liquidity composability, mutual pricing and evaluation system, etc. are all determined and directly affected by Ethereum's market fundamentals. The rise of ETH has the effect of moving the whole body with one hair;

3) ETH's large ecosystem has precipitated too many old narratives that have not met expectations. Can DeFi revive for the second time, can NFT set off a literary and artistic wave again, does layer2 really have Mass Adoption value, can the new RWA narrative lead the main upward trend, etc. During the market downturn, these narratives that are overly suppressed by emotions may start a round of rotation market like a crushing blow once the valuation logic of ETH breaking a new high is repaired;