In the past six months, the chip structure of BTC and the chip structure of Ethereum have been polarized, showcasing a textbook-level trend.

Every time it reaches a price range of $BTC , there is enough turnover to settle the chips, gradually forming one “accumulation wall” after another.

This trend feels like laying a foundation—there is no rush to build a skyscraper, but rather to take one step at a time. The result is that: during declines, it is not easily broken through, and the safety margin of the market is layered higher and higher. In other words, this round of BTC's fluctuation range is very likely to not experience the large ups and downs seen in previous cycles.

In contrast, $ETH is somewhat different. Although it has formed a layer of chip wall in the 2,500-2,800 range, its thickness is noticeably thinner than that of BTC. Particularly, above 2,800, it surged rapidly with insufficient turnover, leading to loose chips above. In other words, the chip structure of ETH resembles a “hollow floor”; if the market experiences repeated fluctuations, the volatility of ETH is likely to be significantly greater than that of BTC.

The pullback amplitude is greater than that of Bitcoin, and the upward surge will also be greater than that of Bitcoin!