Ethereum has unsurprisingly reached a new high, and as for whether it has peaked, it is currently not visible. Since Ethereum transitioned from PoW to PoS, it is no longer the same Ethereum as before. It is unreasonable to use past historical highs to judge the current pressure. As for the trapped positions around 4700, if after such a long time it has dropped to 800 without averaging down or cutting losses, I would call that person a master. Therefore, actually, there isn't a substantial trapped position at 4800, only some selling pressure.
Bitcoin at its current position has been played out; without a significant correction, it is impossible to activate Bitcoin. Unless institutions treat it as gold, hoarding it and never selling, only driving up the stock price without relying on Bitcoin for profit.
The market has been manipulated to the extent that even a high Bitcoin is not appealing for buying; new money can only be invested in Ethereum, which is why I say that in the short term, Ethereum's peak cannot be seen.
Without a significant correction, I do not plan to re-enter the market. I judge that the next significant correction is likely to be due to the collapse of a stablecoin. Recently, there have been too many newly issued stablecoins, and undoubtedly, some are not legitimate. It's just a matter of how they will collapse, whether it will be due to insolvency or hidden collateral issues.
The collapse of a stablecoin would be a fatal blow to the crypto space, but there is no need to worry. The market is becoming more regulated, and as it grows larger, it will not collapse easily. On the contrary, after a collapse, it will truly activate the market.
