The current market is in a state of extremes, with Bitcoin leading the charge, and Ethereum following closely behind. Altcoins have plummeted, and occasionally a few standout projects emerge, which only serve to whet retail investors' appetites. Currently, the greed index stands at 83, indicating an extreme greed state.
Personally, I remain optimistic about Ethereum. Despite Bitcoin's severe draining of liquidity, Ethereum has still reached a new high for the year, currently above 4000. However, ETH/BTC remains below 0.038, indicating there is still considerable room for growth. A clear indication this week is that the turnover period for ETH has passed, and there has been continuous net inflow into ETFs, suggesting that Wall Street money is consistently coming in. Meanwhile, seasoned investors in the crypto space have sold off a lot, so the future of Ethereum looks promising.
