$ETH 4700: This is not the peak, but the starting point
Many people start to worry that "Is it about to peak?" when they see ETH rise to 4700. But the reality is quite the opposite; the breakthrough at 4700 signifies that a new wave of major uptrend has just begun. On-chain data shows that there are no signs of large investors withdrawing funds; instead, they are increasing their positions, and the staking rate remains high, with chips becoming increasingly concentrated. Technically, the trend is stable, and short-term fluctuations are unlikely to shake the overall upward pattern. On a psychological level, the breakthrough of a new high will quickly spark the market's enthusiasm for chasing prices, with retail investors following suit and accelerating the price increase. Rather than worrying about hitting a peak, it is better to understand that this is the starting point of a bull market, with 6000 being the real target.