Bitcoin has stabilized at the position of 110,000, and the funds for buying Bitcoin ETFs are flowing back, which are all good signs.

However, in this round of the bull market, Ethereum has risen more sharply than Bitcoin. According to past bull market patterns, Bitcoin usually leads the charge.

But this time, since the beginning of the year, Bitcoin has led, and starting from June, the main character has shifted to Ethereum. Another point is that in previous final stages, unknown altcoins would experience a crazy surge, but this also indicates the arrival of the end of the bull market.

The recent pullback, in my opinion, is not significant. Whether it’s people closing positions to break even, institutions continuously trading, or those who have made profits exiting, it all indicates that the market is not over yet. Additionally, when Ethereum's market share reaches a certain level, large holders on the chain begin to switch to Ethereum.

When Ethereum calms down, these large holders' funds will start looking for some valuable, strong altcoins.

However, this round is somewhat different. Where exactly it is different, I will provide an answer in the internal report.

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