Of course, the ETH chips are inevitably in the hands of institutions or large capital; otherwise, which retail investor has such strength? In other words, for ETH to advance further, it must go through such a process of turnover.

BTC has also gone through this, with huge divergences occurring at $30,000, $60,000, and $100,000, and it even took a full 7 months from March to October last year to digest early profit-taking chips, causing the accumulation area to continuously rise.

The general increase in holding costs is also an inevitable process of the market rebuilding price consensus, as people will not accept overnight that $70,000 BTC is actually undervalued.

Now, with Ethereum at $4,700, even some long-term holding whales think it's expensive, but perhaps in the near future, they may not think so anymore.

Of course, there is no right or wrong in orderly exits after large profits, especially for large funds. As long as one strictly follows their trading plan and executes discipline, that is enough.