The countdown begins as Ethereum (#以太坊创历史新高倒计时 ) hits a historic high, driven by three main factors:

1. **Expectations rise for the approval of the US Ethereum spot ETF**, which, if passed, will attract hundreds of billions in traditional capital;

2. **The effects of technical upgrades are becoming apparent**, with the staking mechanism reducing circulating supply and Layer 2 ecosystem activity soaring;

3. **Bitcoin bull market spillover**, with institutions increasing their allocation to cryptocurrencies, making Ethereum a core beneficiary.

Short-term volatility should be monitored, but after breaking through the key level of $4,000 technically, new historic highs are to be anticipated.