After a brief breakout above 125,000, the large pancake has pulled back. This position, while not a strong resistance, has indeed impacted market sentiment with its rise and fall.
The time window in mid-August is worth paying attention to. If funds continue to flow from Bitcoin to Ethereum, we may see the BTC/ETH exchange rate pull back to 0.04.
Ethereum is currently only 2% away from its historical high, but this peak from four years ago has limited actual impact on the current market.
The key price level this year is at 4100, and breaking through the 5000 barrier does face significant pressure.
From recent trends, Ethereum's performance has been more stable than Bitcoin's, with a healthier volume-price structure, indicating that funds may stay in Ethereum for a longer period.
The market is still in a bull cycle, but increased volatility is a normal phenomenon. Stay patient and wait for clearer trend signals.
