According to BlockBeats, as monitored by Lookonchain, Smart Money made $1.1 million by going long on Ethereum three days ago and has again gone long on ETH four hours ago.

1. Currently, ETH is fluctuating between $2,420 and $2,655. A breakout above $2,655 may trigger short liquidations, targeting $2,734-$3,000. The weekly bull flag and daily EMA bull arrangement resonate, requiring volume to expand to 1.5 times the recent average to confirm effectiveness. The daily RSI is close to 70, but on-chain exchange reserves have fallen to a three-year low, with whale addresses (holding 10,000+ ETH) increasing by 12% weekly, concentrating chips.

2. The ETH staking rate has surpassed 27%, with annualized yields of 3.5%-5%, attracting institutions to enter through platforms like Lido, along with the expectation that BTC ETF funds will overflow into ETH. The TVL of ZK-Rollup chains has exceeded $20 billion, and the daily average destruction amount of EIP-1559 has surged, reinforcing ETH's attributes as 'yield certificates + ecological carriers'.

3. The Bitcoin 2025 Conference (May 27-29) may release signals of ETH compliance, while the SEC's decision on the staking ETF remains a short-term risk. Over $5 billion in compensation funds from FTX will be released on May 30, some of which may flow into ETH. ETH/BTC has broken the support at 0.033, with funds temporarily flowing back into BTC for safety, but the Federal Reserve's balance sheet expansion supports the digital gold property.

News - Triple nuclear bomb explosion.

  1. The US SEC has recently been secretly drafting regulations for crypto asset leverage trading, proposing a leverage limit of 5 times for institutional investors' cryptocurrency derivatives, and mandating the disclosure of position sizes and liquidation plans. This move directly targets the prevalent compliance paradox of 20-100 times leverage strategies in the current market: although the (GENIUS Act) promotes stablecoin compliance, high-leverage trading may be defined as a 'systemic risk source'. Gibraltar has taken the lead in requiring that capital adequacy ratios for cryptocurrency derivatives clearinghouses be raised to 30%, far exceeding traditional financial market standards.

  2. Institutional strategy transformation: Smart Money is forced to adjust position structures, with some funds shifting towards staking tracks (e.g., Lido staking APR 5.2%), or hedging risks through OTC bulk trading. On-chain data shows that over 21,000 ETH have been transferred from exchanges to staking contracts in the past 24 hours. Current open contracts for ETH exceed $12 billion, with over 37% of positions leveraging more than 25 times. If the price falls below $2,500, it could trigger over $1.8 billion in long liquidations, reminiscent of the 2024 LUNA-style liquidity spiral.

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