Bulls and bears are locked in a fierce battle, and even whales are betting on Ethereum's rise!

Market volatility was significant this morning. Ethereum reached a high of $4,956, nearly breaking through $5,000, but was immediately slammed back down by a large bearish candlestick. It's now back around $4,600, a nearly 8% fluctuation in just half a day. Bitcoin also experienced a sharp correction, plummeting from $115,000 to $110,680, a drop of over $4,000 in one fell swoop—a significant drop for Bitcoin.

It's clear that both bulls and bears are being extremely cautious around the key $5,000 level. After all, Ethereum has been showing strong momentum recently. If it holds above $5,000, its upward trajectory is likely to accelerate.

Interestingly, this time, the price wasn't being pulled up by institutions, but rather by crypto investors themselves. The large bullish candlestick from $4,200 to $4,800 the day before yesterday was a typical example of major cryptocurrency investors. Even more noteworthy, yesterday, even Bitcoin whales began to shift their investment into Ethereum.

What does this indicate? This suggests that even major Bitcoin traders are optimistic about Ethereum breaking through 5,000. If the bull market continues, Ethereum's upside potential may indeed be greater than Bitcoin's.

Before this decline, some bearish voices suddenly emerged in the market, saying that the market had entered its final phase. I partially agree with this view. I personally see Ethereum's target price this time as 8,000-10,000, so I will gradually reduce my holdings after it breaks through 5,000. However, I don't think it's necessary to start a full-scale bearish stance now.

My strategy is to wait for a break through 5,000, then consider gradually taking profits on large positions. If there's indeed a long rally ahead, it would be a shame not to take advantage.

Regarding the market, I originally expected a direct upward breakthrough in the early morning, but Bitcoin followed suit. Ethereum has temporarily fallen below 4,600, returning to its previous range of fluctuations, indicating that the battle between bulls and bears will continue. However, with such high volatility, a trend is highly likely to emerge within this week.

Regardless, the market will be highly volatile over the next few days. I recommend avoiding futures contracts, but you can still hold some spot positions. With $5,000 at the top, I don't think the major players will give up easily. If you're unsure of the exact timing, follow me for 24/7 real-time updates. Keep an eye on my profile, click on my profile picture, and follow me to never miss a single update!Let's celebrate the bull market!