BTC originally ignited market sentiment instantly, but unfortunately, the good times didn't last long, and the price quickly fell back down. Although it was only a brief new high, it is still a historic moment worth noting in the market.
At the position of 125,000 for Bitcoin, I don't think it's too big of a resistance. From today's trend, this kind of high rebound and fall pattern can easily undermine the confidence of short-term bulls.
Next, we will see if the so-called 'mystical time window' in mid-August can come to fruition. If it turns out, as some speculate, that the exchange rate of 0.04 could be achieved through a drop in BTC, it would mean that funds will continue to tilt towards ETH in the short term.
ETH is only 2 points away from its historical high, but because that high was four years ago, it has limited impact on the current market, more of a symbolic significance.
The real key point this year is still the 4100 position. Currently, breaking through the 5000 barrier is much more difficult. Based on recent trends, ETH's rhythm is healthier than Bitcoin's, and its volume and structure are more stable, so the duration of funds staying on it may be longer.
Seizing the opportunity for future positioning can allow many people to leap across classes again in a bull market!
