Ethereum plummets, institutions are scrambling! Target price for the second half of the year is aimed at 10,000 USD, can it really double this time?
The market is still falling, Ethereum dropped below 4200 USD today, but by the time of writing, it quickly bounced back. If it can stabilize at 4200, the short-term trend is similar to what I said before; 4200 is short-term support, but it may briefly dip below. Looking at the hourly chart, the downtrend remains unchanged, and solid support is really around 3600 USD. If this round of decline doesn't stop, even 4000 may be breached. To change the retracement trend, Ethereum needs to rise to at least 4400 USD and stabilize, so shorts are stronger in the coming days.
Looking at the data, the amount of Ethereum withdrawn from staking has risen to 900,000 coins (the highest since the transition to PoS), but people are not rushing to sell; they are more afraid of profit shrinking. Interestingly, traditional ETH whales are selling, while US stock institutions (like BNMR, SBET) are buying in. Last week, BNMR bought 370,000 coins, and SBET picked up 140,000 coins, a typical “you sell, I buy” situation.
Although there is a retracement now, I still hold a bullish view because this time it's the US stock funds that are pushing! Institutions like BNMR can raise 20 billion in new funds, clearly optimistic about Ethereum. Previous examples like Grayscale and BTC ETFs prove that US stock fund power is significant. Currently, Ethereum's market cap hasn't entered the ranks of tech companies, but it is very likely to surge in the second half of the year, with targets of 8000 to 10,000 being completely possible.
To put it frankly, the crypto world is no longer the era of “easy profits” like in the past; high-multiple opportunities are scarce, and institutions are more ruthless in “harvesting retail investors”. Ethereum is the clearest target for the second half of the year, a chance for large funds to double. I personally bottomed out below 3000, with a cost of over 2000; many others have also held on through this. If I can’t sell for 2-3 times, I would truly feel reluctant, after all, this is Ethereum!
10x opportunity has already appeared, I have already bottomed out! While you are still doubting the authenticity, I have already gone all in. Although the villa is not yet by the sea, I hope this time it can come true.
