I personally still think that the previous decline of Ethereum has little to do with the change of banks to accumulate funds, that is, the high profit is cashed out, and the old banker smashes the market to make a profit; During the same period, liquidity declined, and the overall market's ability to undertake various selling orders was weak. In addition to the recovery of market confidence brought about by the tariff policy after the end of early April, which will only improve + Laozhuang to do a new cycle + liquidity return, most of the subsequent upward trends are strongly related to the narrative buying confidence brought by micro-strategy currency stocks
Personal review～
Ethereum's first wave of decline from the high of 4100 to the first pullback platform was followed by a rally, and discussions began to emerge about Ethereum changing hands and accumulating chips. By the time the second pullback platform arrived, such discussions gradually increased. As a result, the price continued to break down, and the talk of changing hands went from small to large and then back to small, turning into a situation where the market was abandoned by the whales. Meanwhile, old OGs kept leaving and cashing out, and the market's criticism grew louder, such as the later frenzy of dissing Vitalik.
Why was there talk of changing the main players to accumulate chips in the high market before? It wasn't until I accidentally came across a so-called "Ethereum 'chip concentration' fitting chart" while climbing the stairs recently that I thought, "So that's how it is." From the chart, it can be seen that since Ethereum's launch, whether it was a bull market skyrocketing hundreds of times or a bear market plummeting 95%, the so-called chip concentration trend has been consistently declining, until the end of 2024 when it started to show a turning point at 4000, and the chip concentration has been continuously increasing.
Interesting~
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