The breakout行情 of ETH at 4600 has the characteristics of a typical bull market main rising wave.

Compared to the previous round, there are several key differences worth noting:

Stronger fundamental support

DeFi TVL broke through 60 billion USD, an increase of 50% compared to 2021

L2 network daily transaction volume reached 3 million, three times the peak of the previous round

Institutional holdings increased from 12% to 27%

Healthier capital structure

Institutional percentage in futures open contracts is 65% (only 35% in 2021)

Spot exchange inventory has dropped to historical lows

The proportion of staked ETH reached 26%, with locked assets increasing

More solid technical patterns

Trading volume during the breakout was 1.8 times that of the same period in 2021

The RSI indicator did not show severe overbought conditions as in the same period last year

The pullback was kept within 8% (with an average pullback of 15% in 2021)

History will not simply repeat itself, but will rhyme with similar tones.

If this is indeed the beginning of the main rising wave, then: the target of 6000 may come faster than expected

But volatility will also be greater, with daily fluctuations of 10% becoming the norm

The key is to hold on and not get shaken out

The most lucrative phase of a bull market is often also the time that tests holding power the most.

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