The MG Chamber of Deputies passed three key cryptocurrency bills unanimously in the early hours, marking a milestone event for the industry and providing clear regulatory backing for the market, which is significant. After the bills were passed, the market reacted positively with Ethereum breaking through $3600, just 13% away from its previous high of $4100.
Institutions have been revealing their Ethereum holdings or purchase plans, indicating strong optimism. However, this is often a signal after positioning has been completed, aimed at attracting retail investors to push prices higher. It is crucial to follow the main players' rhythm instead of waiting for favorable news to enter at a higher price, to avoid missing opportunities and increasing risks.
From a technical perspective, Ethereum's weekly trend looks healthy: the candlestick body is increasing, bullish momentum is consistently being released, and the strength is evident, with a breakout above the previous high of $4100 expected soon.
On the policy front, the passage of the stablecoin bill will encourage more institutions to choose to issue stablecoins on Ethereum, which offers advantages far exceeding those of other public chains.
When Ethereum returns to $4000, focusing on seizing the current bull market is key. Whether one can capture this bull market often determines the ability to seize the next one.
