$ETH has seen ETF fund purchases since May, helping ETH rise from $1800 to $2800. Subsequently, the market entered a new round of fluctuations. After $BTC rises and breaks through $120,000, the ETF funds for purchasing ETH will increase their stakes again.

On the 16th, single-day purchases reached $727 million in ETH, helping the market surge from $3150 to $3400, wiping out most of the shorts. The spot buying power is very strong.

The E guardians can be said to be really different this time. From this morning's pullback, it only retraced by $100 before breaking through new highs again, proving that institutions have not sold, and this $100 drop is mostly caused by retail investors exiting.