It is well known that the main driving force behind this bull market is US capital.
Currently, the situation in the US is still in a holiday state (Christmas to New Year), indicating that liquidity is quite limited, especially on weekends.
Whether from the US stock market or the cryptocurrency market, we can see that trading volume and volatility are relatively low. This kind of market is quite common at the end of the year, as there are a lot of settlements, whether for holiday sales or for companies to balance their accounts. Therefore, this drop is reasonable and does not significantly affect the trend.
If you're interested, you can look back at the market trends at the end of previous years, which have generally been quite complicated. Apart from the monotonous upward trend in 2020, other years have been characterized by fluctuations, and real breakthroughs in trends typically emerge in January of the following year. So, there's no need to pay too much attention to the market in the next few days; just stay calm.
By December 27, 2024, ETH is still awkwardly stuck at 3300 points. While BTC is reaching new highs, ETH hasn't even touched the historical high of 4800 set in early November 2021. Over the past year, it has repeatedly attempted to break 4000, but has faced setbacks.
As the king of altcoins and the king of public chains, ETH's ecosystem is deeply rooted and has long been embedded in every corner of the crypto world.
Various whales and even Wall Street forces have a deep involvement in ETH, with many calculations already predetermined from the last cycle. At that time, other public chains didn't even have the qualification to compete.
This means that a large amount of capital and plans have already been pre-positioned, and the script for the rise has long been designed, just waiting for specific conditions to be triggered.
Currently, the ETH spot ETF policy does not allow for staking, meaning users cannot earn staking rewards and must also pay management fees, which has significantly hindered capital inflow and weakened the appeal of ETFs.
With Trump's ascension, it is highly likely that future policies will allow ETFs to provide clients with staking yields. Currently, the staking yield is around 4% annualized. In the future, as interest rates are lowered, the appeal of ETH spot ETFs may even surpass that of BTC. You can enjoy the benefits of the Ethereum ecosystem's rising coin price while also earning interest passively.
Additionally, I have compiled a set of data: When Ethereum rises, everything thrives!
From October 2023 to March 2024, there will be a major altcoin market, with the Ethereum Cancun upgrade occurring in March 2024.
From January 2023 to April 2023, there will be a significant altcoin market, with the Ethereum Shanghai upgrade occurring in April 2023.
From July 2022 to August 2022, there was a significant altcoin market, with the Ethereum Paris upgrade occurring in September 2022.
From July 2021 to November 2021, there was a significant altcoin market, with the Ethereum Glacier upgrade occurring in December 2021.
From November 2020 to May 2021, there was a significant altcoin market, with the Ethereum Berlin upgrade occurring in April 2021.
Every time before an Ethereum upgrade, there is pre-speculation! Each time a positive outcome is realized, the market tends to end.
When is the next Ethereum upgrade? It will be the Prague upgrade in March 2025!
In the past, positive speculation around Ethereum would typically occur 2 to 3 months in advance.
