🔔"The Bull is Here" Bitcoin is once again trying to reach the peak, why is Ethereum so weak? 🔥🔥🔥

Bitcoin is making another attempt to break the $70,000 barrier at midnight, aiming for a new peak, just one step away from the $70k mark. It has been mentioned before that $70,000 is a hurdle, and "The Bull is Here" confirms "The Wolf is Coming"; this is the third attempt this month to reach the peak—on the 21st, 25th, and 29th.

So why is Bitcoin making such frequent attempts to break through and keep us on edge? First, it's the benefits brought by interest rate cuts, then the upcoming US elections, and lastly, the escalating situation in the Middle East. This week also brings significant non-farm payroll data. Is it "forced by circumstances" or "a matter of destiny"? We can only see if it can break through and stabilize above the $70,000 mark.

Now, let's talk about why Ethereum is so weak. Looking at the purple gold metrics, it has remained unchanged for three years and has recently declined. Developers on the mainnet have shifted focus to Layer 2, and the Restaking race has created a vampire attack on the mainstream technological development path of Layer 2, draining a large amount of resources from the ETH ecosystem. Key opinion leaders in the Ethereum ecosystem are becoming aristocratic, forming a class of interests which solidifies class movement, resulting in a lack of sufficient incentives for the developer ecosystem, and innovation naturally appears weak.

Returning to the market situation: I personally believe the $70,000 barrier for Bitcoin is still a hurdle, and strong pressure remains. Operational advice suggests that the range of $69,500-$70,500-$71,000 can still be a good entry point (aiming to peak above $70k).

As for Ethereum, I believe the weakness can be observed in the range of $2,300-$2,600. There is strong pressure around $2,800.

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