The current stage is the stage where major ETFs are collecting funds. In addition, due to the fee rate, Grayscale users continue to unlock and go to other institutions, mainly BlackRock and Fidelity. In addition, there are over-the-counter institutions entering the ETF. Therefore, at this stage, the most likely scenario is that the market will maintain a range-bound fluctuation, or it may fluctuate upward. On the contrary, ETH has ETF expectations and may be the first to rise.