ETH has once again broken through a new high, while BTC shows weakness in its rise. Currently, ETH's issuance is not a bomb that retail investors need to worry about; the stock market also issues more shares, but it does not affect prices. What impacts prices are policies and the gathering of smart money, with insider trading > quantitative trading > subjective trading. Retail investors are at the very bottom of the hell. Since Wall Street entered the crypto world, it has become more regulated and increasingly aligned with the U.S. stock market. We cannot use the previous crypto world mindset to view the market anymore. If one asks when the market will crash, it should happen simultaneously with AI and the U.S. stock bubble, and then we will enter the next cycle. Right now, the U.S. needs the crypto market, not the other way around. At this time, shorting must be approached with caution. The distribution process can go on for months without issue; it will only crash when everyone can no longer buy the dip. Once a low point is broken, a lot of people will rush in.

Let's take a look at altcoins. Currently, it seems that altcoins are being siphoned off by BTC and ETH again in today's morning session. If ETH continues to pump, and the altcoin market makers do not take action, once the liquidity of altcoins dries up, they will face a re-distribution (falling to a very low price). It seems that this is possibly due to ETH rising and BTC falling, which may have led to some kind of divergence, possibly a clash between the infinitely inflationary POS and the total supply-limited POW. Currently, ETH seems to have the upper hand. It seems that in this wave of adjustment, even if we see BTC starting with a '10', I think this should be the last opportunity for ordinary people to accumulate BTC in this bull market, as BTC will no longer be related to ordinary people in the future. ETH still looks bullish, and breaking through new highs is definitely not a problem. Personally, I believe it will break the bullish harmonic pattern of the monthly line like BTC, which is around 5700. Then we can analyze again. In terms of altcoins, valuable coins need some narrative concepts or external factors to drive external buying for them to multiply. However, the ancient gods of the crypto world are all calling for the opposite, and no one believes them anymore, so relying on them won't work. Chinese people need their own coins. BCH and LTC may have a chance to become the next coins to start. BCH is now over 600, which does not quite meet the requirements. LTC has been hovering between 50 and 100 for nearly 7 years; anyone entering now with chips won't see a high premium. However, because of POW and its tie to Dogecoin, it is uncertain whether it can start. Focus on this.