Is this bull market too crazy?
This bull market is too crazy, Ethereum's historical high hasn't been broken, Bitcoin has been hitting new highs continuously since November, while Ethereum is being massively sold off by market makers. When will Ethereum break its new high?
There’s something even more terrifying, the rumor about pulstoken, the 789,000 Ethereums confiscated by the domestic government in the early days are starting to gather and show unusual activity! With the current liquidity, once a large-scale sell-off happens, it will trigger on-chain DeFi leverage liquidations, and with panic spreading, the once unshakeable number one public chain seems to be heading towards zero.
Everything is clearly telling you that Ethereum is done for, and Vitalik is done for. But when I calm down, I discover many deeply unsettling details.
BlackRock and others are still continuously flowing into Ethereum's ETF. Imagine if they let clients lose money on Ethereum's ETF, how will they continue to apply for and promote new ETFs in the future?
If on the day of the crash, multiple giant whale addresses bought a large amount of Ethereum, all at low prices. And during the subsequent fluctuations and rallies, this price has not been touched again.
It seems there is a conspiracy behind this, most likely BlackRock did not absorb enough Ethereum at the bottom, so they collaborated with the media and KOLs to create a big show. The chips have only shifted from highly leveraged and panicking retail investors to large holders, completing a new round of cleansing.
In summary, I believe the probability of Ethereum going to zero is 0.1%