The market is soaring all around! Bitcoin stabilizes at 93,000, ETH breaks 3,100, and the scent of a new cycle is getting stronger!

Today's market can be described in four words: momentum like a rainbow.

Bitcoin directly touched 94,000 USD during the day and firmly stood above 93,000 USD, so strong as if it completely disregarded the bears. Ethereum is similarly powerful, approaching 3,100 USD, steady as if it just experienced turbulence yesterday.

1. Ethereum's 'upgrade patch' is far more significant than you think

This Fusaka upgrade is not a minor fix but a substantial enhancement of the underlying performance:

• Layer2 data processing capacity increased by 8 times

• On-chain capacity is larger

• Transaction fees are cheaper

This is equivalent to widening Ethereum's 'highway', dramatically changing the transaction efficiency of Layer 2. The long-term significance is very important, as it will enhance the value-bearing capacity of the entire ETH ecosystem.

2. BlackRock CEO publicly admits mistakes, attitude changes dramatically

BlackRock manages the world's largest Bitcoin spot ETF, and its CEO Larry Fink publicly stated today:

"I was wrong to oppose Bitcoin in the past."

This is not a casual reflection but a collective shift in traditional finance's attitude toward crypto assets.

Financial giants moving from 'skepticism' to 'participation' is a key step toward mainstreaming the industry.

3. The biggest driving force comes from — the Federal Reserve

The recently released employment data in the U.S. was weak, and the market instantly fully bet on interest rate cuts, believing that the Federal Reserve might announce a rate cut next week.

Rate cuts mean:

• Money becomes cheaper

• Liquidity increases

• Risk assets become more attractive

The stock market and cryptocurrency market are naturally soaring across the board.

4. However, this wave of increase still requires clarity

Although market sentiment is exuberant, the current price has already entered a high volatility area.

This wave may be a technical rebound or the starting point of a new cycle — but the final direction still needs to wait for the Federal Reserve to announce the interest rate cut to set the tone.

In summary:

Today's big bullish candlestick is fueled by a series of positive developments and dual expectations for interest rate cuts, but the real market drama is still waiting for the Federal Reserve to draw the curtain.

In the coming days — every candlestick is not a small candlestick.