The trend of $ETH is indeed very similar to when BTC broke 70,000 last year, both driven by institutional funds continuously buying in.
Back then, it was ETF funds plus large institutions like MicroStrategy continuously buying BTC, and now it's ETH being frantically snatched up by institutions.
The most typical characteristic of this kind of market is that there is almost no correction because large funds build positions by continuously buying, unlike retail investors who buy and stop intermittently.
Once ETH rises to a certain height, those who sold at 4000 will definitely become anxious, and at that time, retail funds and institutional funds will enter the market together, making a 20% rise in a day not surprising.
Currently, money is still flowing into ETH, and when it truly breaks the historical high, funds will start flowing into altcoins.
At that time, XRP, UNI, LTC, and SUI, which have real applications, will likely see a rebound.
However, it is important to note that when altcoins start to move, it often means we are in the latter half of this market cycle.
