Recently, the cryptocurrency market has become lively again, with Ethereum skyrocketing, and the increase is simply jaw-dropping! On August 9th at 13:07, Ethereum seemed to be energized, and in just three minutes, the price surged by 2.92%, breaking through the significant thresholds of $4100 and $4200 consecutively, reaching a peak of $4245.7, a new high since December 2021. In the past four months, the cumulative increase has reached as high as 200%! Behind this crazy rise is actually a 'disaster scene' for short investors. Coinglass data shows that in the past 24 hours, over 100,000 investors globally have been liquidated, with a total liquidation amount of $369 million, of which Ethereum-related liquidations accounted for $236 million, a staggering 64%. In the Ethereum market, the proportion of short liquidations is 98%, amounting to $112 million, while long liquidations are only $1.73 million, and the vast majority of shorts didn't anticipate this sudden attack. So who is crazily pushing up Ethereum behind the scenes? Institutional funds are undoubtedly a significant force. On August 8th, Eastern Time, Ethereum's spot ETF had a net inflow of $461 million in a single day, with BlackRock's ETHA attracting $255 million in a single day, and Fidelity's FETH seeing an inflow of $132 million, bringing the total net asset value of these ETFs to $23.384 billion. Regulatory policies have also 'added fuel to the fire' for the market. The Trump administration signed an executive order allowing cryptocurrencies to be included in 401(k) retirement accounts, opening the door to an approximately $12.5 trillion retirement market for cryptocurrencies. Additionally, there are technological breakthroughs, as Ethereum successfully broke through the key resistance level of $4100, knowing that it failed six times previously. Market sentiment instantly shifted from 'questioning life' to 'fear of missing out (FOMO)'. Moreover, Ethereum's staking annualized yield remains in the range of 4-6%, and it is expected to rise to 6-8% in the future, giving Ethereum 'digital bond' attributes, which attracted many long-term investors. The traditional financial sector has also sparked a wave of 'ETH Microstrategy', with many publicly traded companies in the U.S. incorporating Ethereum into their balance sheets. As of August, Bitmine Immersion Tech holds approximately 830,000 ETH, valued at $3.006 billion; SharpLink Gaming holds 568,000 ETH, valued at $2.3 billion. Together, these companies hold about 1.9% of the circulating ETH supply, significantly up from 0.7% in 2023. #Ethereum #Cryptocurrency