CoinVoice has learned that Matrixport released a chart today stating, "From a pricing logic perspective, the main driving force behind cryptocurrency asset prices remains the influx of incremental funds, rather than changes in user numbers or application scenarios themselves. This is particularly evident with the Ethereum ETF: during a period of nearly 10 billion dollars of continuous inflow, the price of ETH rose from about 2,600 dollars to 4,500 dollars; however, when the inflow of funds slowed down, the price quickly retraced its previous gains. In an environment where new genuine demand is relatively limited, Ethereum and the broader cryptocurrency market remain highly sensitive to marginal changes in the flow of funds. Compared to the last bull market, where the narrative was more centered around "adoption, revenue, and network growth," funds were willing to pay a premium for these expectations; whereas in this cycle, price performance is largely dependent on where the funds flow, how quickly they enter, and when the funds suddenly stop."[Original link]

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