Today the market has pulled back again, Ethereum dropped below $4200 and then bounced back. Actually, $4200 is not a strong support level, it's quite normal for it to break in the short term. Looking at the hourly chart, it still seems to be in a downtrend. To stabilize, it needs to rebound and stay above $4400, otherwise, it will likely remain bearish for the next few days. If we talk about strong support, it should be around $3600. If the downtrend channel isn't broken, $4000 probably won't hold either.

Additionally, there are 900,000 Ethereum queued to exit staking, setting a new high since the transition to PoS. This panic is different from previous drops; it’s more about the fear of shrinking profits. Interestingly, institutions are still buying. BNMR bought 370,000 pieces in a week, and SBET purchased 140,000 pieces as well. This scene is akin to “mutual SB,” panicking to run while desperately buying.

I still tend to be bullish; time is on our side. Why do I say there might be big opportunities in the second half of the year? Because this time, it's the US stock funds entering the market. The money from BNMR and SBET, regardless of the situation, shows optimism towards Ethereum, which is equivalent to indirectly holding coins. Everyone has seen the energy of US stock funds during the times of Grayscale Trust and spot ETFs.

Ethereum's current market value can't yet squeeze into the ranks of high-tech companies, but it might achieve that in the second half of the year. As long as US stock funds keep buying, a target of $8000 to $10,000 is not impossible.

The crypto space is no longer an era of wild growth; projects with high multiples are becoming rarer, and with institutions entering, there are more “scythes.” However, Ethereum is clearly a great opportunity for the second half of the year, and the possibility of significant capital doubling lies here. No one dares to guarantee, but right now, there’s nothing more reliable than it.

Many people have held on for so long; who would be satisfied with just two or three times returns?

After all, this is Ethereum. How high do you think it can go this time?

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