$ETH Daily surge of 5% breaking through the previous high of $3624, is it institutions wielding the scythe against retail investors, or the starting gun of a bull market?

This morning's soaring candlestick directly awakened the crypto circle, with three consecutive days of violent rises, and the monthly increase approaching 40%. Retail investors simply cannot move this kind of price-volume breakout trend; the real institutional army has gone crazy!

First, let's look at the behind-the-scenes movers. In July, Ethereum ETF net inflows exceeded $726 million, setting a record, with $717 million pouring in just yesterday, and BlackRock's ETHA alone accounted for $489 million! Once this capital enters the market, it locks in circulation, and selling pressure directly dries up; it’s no wonder prices are rising.

What’s even more ruthless is that a certain institutional address withdrew 15,000 ETH from Kraken this morning, accumulating a total of 103,000 ETH since July 10, with a cost price of $2885. Now with an unrealized profit of $63 million, they still aren’t retreating. Large withdrawals directly drain the liquidity of exchanges, making it difficult for shorts to find ammunition!

Technically, it’s already clear. The ETH daily chart is replicating the cup-and-handle pattern from the end of 2023. After breaking through the previous high of $3624, technical analysts are all calling for a target price of $4000. But don’t panic; a pullback to $3529 or $3540 is an opportunity to add positions. This morning's support at $3540 has already exposed the main defense level; a drop to this point must rebound!

If the previous high of $3624 lingers too long, some bulls might turn against. Additionally, XRP and SOL both surged over 5% today, with ETF funds beginning to spill over into smaller coins. If ETH consolidates, hot money might run to pull up SOL, DOGE, and other targets.

I bet this wave can surge to $4000! When institutions use ETFs to consume 4% of the circulating supply, and when the giant whale with a cost basis of $2885 has a 60% unrealized profit and still doesn’t flee, do you still think this round of market activity is just news speculation?

#美国众议院通过三项加密货币法案 The true season for altcoins may just be beginning. If you don’t follow now, are you waiting to chase when it rises to $4000? How high do you think ETH can go this time? Leave a message in the comments, follow me, and don't miss the next opportunity to get rich! #ETH突破3600