After the Mentougou project was launched, only the Ethereum ETF is left. There are fewer and fewer risks in the cryptocurrency circle, which is a good thing for the market. A market with less uncertainty is more attractive to capital. From the current perspective, it will take a few months to fully digest these events. After the Ethereum ETF is passed next month, there may also be selling pressure from Grayscale, and the market will continue to face pressure. Therefore, we must be cautious in these months. The superposition of important data and events makes the market unpredictable.