Regarding the exchange rate of #ETH , from a weekly perspective, it is clear that it is currently constrained by this long-term downward trend line, with a slight pullback this week and still not breaking through;

This aligns with the expectations in the citation, as the previous large whales gradually changed their positions, leading to an improvement in the exchange rate level, while the continuous buying of ETFs and coin stocks has driven up the U-based price.

But the current question is, how much of this core buying power for ETH remains among these three favorable factors?

My thought is that the exchange rate should still be under pressure in the short term, but the long-term downward trend line will eventually break through. Once it breaks, it signifies that the liquidity of BTC in the market has truly started to flow out.

What people are looking forward to as the altcoin season may not be a bull market in U-based terms, but rather a bull market in terms of the exchange rate. This means that even if there is a bear market, the downside space for altcoins and ETH is limited, and once the bull market resumes, their increase may be much faster than BTC's!