'With the blast of policy, the crypto market has exploded with golden pits - Trump's 'retirement fund entry order' has directly put ETH on the fast track to compliance!'

Why can policies ignite the market? Three words: money, power, influence!

Simply put, the executive order that Trump is about to sign is equivalent to giving cryptocurrencies a 'retirement VIP pass'. The scale of U.S. 401(k) accounts exceeds $7.3 trillion (equivalent to the total scale of China's public funds), even if only 1% is allowed to invest in cryptocurrencies, that would be an additional $73 billion! This is ten times more than what all VCs in the crypto circle invest in a year!

More importantly, the policy has directly transformed cryptocurrencies from 'wild kids' into 'regular troops'. Previously, retirement funds could only buy stocks and bonds; now they can be placed alongside private equity and real estate, indicating that the U.S. government finally recognizes: cryptocurrencies are not 'casino chips', but a 'major asset class' that can enter retirement funds. This is like when internet stocks were included in the S&P 500 index, which directly opened a ten-year bull market for tech stocks.

Why did ETH rise the most? Because it has become the 'favored child of policy'!

As soon as the news broke, ETH surged 3.5% in 15 minutes, while BTC only rose 1.28%. Why? Because ETH has already taken the lead in 'compliance'!

Compliance premium: ETH has already been approved for futures ETFs (such as ProShares' BITO), while BTC's spot ETF is still in a tug-of-war with the SEC. Retirement funds prioritize compliance, so they will definitely choose ETH first.

Technical alignment: ETH price breaks above the upper Bollinger Band (3,820 USD), MACD histogram turns red, RSI is not yet overbought - simply put, it means 'strong upward momentum, not overbought yet'.

Leverage health: The perpetual contract funding rate is positive, indicating that the bulls are not going crazy with leverage, and the rise is solid.

For example: just like in 2020 when Tesla was included in the S&P 500 index, its stock price rose by 50% in a month. Now that ETH is 'included' by retirement funds, it is equivalent to receiving an 'institutional certification stamp', making it even more sought after in the future.

On-chain data is secretly 'spoiling' institutional actions.

Although the on-chain data is not shown in the chart, historical patterns indicate that there must be significant movements at this time:

Whale buying: There is a high probability of addresses transferring ETH worth over $100,000.

Exchange withdrawals: Institutions buying ETH will transfer it to cold wallets for storage.

Example: When Grayscale bought BTC in 2021, the amount of withdrawals from exchanges surged by 300%, directly pushing up the price. This time, ETH may replicate the same script.

What does the future hold? Short-term revelry, medium-term differentiation, long-term look at policy.

Short-term catalyst:

When will the Department of Labor release detailed rules (such as allowing what proportion to be allocated).

Which custodians will be the first to access 401(k).

Medium-term impact:

Retirement funds may specifically design custody solutions for ETH.

The derivatives market will launch longer-term ETH options, attracting more institutions to enter.

Potential risks:

The Democrats may cause some trouble, and the short-term rise may be too rapid, leading to profit-taking.

Key data to watch closely:

The negative settlement capital flow four hours after the next day (to see if the bulls are overheating).

Coinbase's institutional trading volume (a barometer of institutional trends).

The number of addresses holding >10,000 ETH on Glassnode (are the whales accumulating).

'The policy dividend has already been dropped, but ETH's 'institutional long march' has just begun - is it a fleeting moment, or will it open a ten-year bull market? Stay tuned for my next reveal: If 1% of 401(k) really allocates to ETH, how much will the price rise? Follow Crypto Qingyao, and let me take you through every wave of dividends in the crypto circle!#比特币流动性危机