ETH does indeed have the potential to go through a major bull run, but nobody can predict “the biggest bull market in history” before the market actually starts moving.
Also, the wording “final stage” implies that you already know the ending in advance, which isn’t very realistic.
I prefer to look at structure and position, rather than use an absolute framework to confine the market.
In 2025, the imitation coin didn’t break through; it’s not that the market isn’t working—ISM has been kept below 50 for a long time.
Now this indicator has returned to above 54. Historically, whenever it rises, the exchange rate between the imitation coin and Bitcoin has been able to break out into a major rally.
It rose 1,800% in 2017 and 550% in 2021. It’s not a coincidence—it’s the transmission of the liquidity cycle.
If we follow this pace, from September to October will be the final round of cleanup, and only then will we enter the true bottom area.
But I don’t think that bottom will go very deep. If institutions are entering the market gradually, the downside room for price may be more limited than expected.
The timing and magnitude don’t necessarily align exactly, but the direction—down first then up—I agree with.
57,750 If it truly is the bottom, then this bear market would be the shortest in history.
But looking at the time window, there are corresponding historical bottom dates in October and November as well—it's not that it's certain, but structurally this possibility exists.
I’m setting December 1st as the timeline for going fully long. Until then, I will retain some flexibility.
It’s not ruled out that it could go lower, and it’s also not ruled out that it has already bottomed out—we’ll take it one step at a time.
Many of the people shouting about 40K are actually the same traders who were shouting about 200K last year. The strategy hasn’t changed—only the direction.
In the short term, there really is a possibility that the structure around 82K will fail. If it’s confirmed to be rejected, then the liquidity region below will indeed pull the price downward.
However, after institutionalization, the probability of a deep bearish move is now much lower than in the previous few rounds. This 50% pullback by itself is already proof.
Typically, when institutions buy in large quantities through Coinbase, the ETH price on Coinbase is noticeably higher than on other exchanges, creating a positive premium.
Data shows that the Coinbase ETH premium index has already returned above the zero line, indicating that U.S. institutional investors are actively buying ETH.
This suggests it’s not retail investors trying to bottom-fish—big money is making the move.
On-chain data shows that in the past week, addresses holding BTC for less than 6 months have reduced their holdings by tens of thousands of BTC, and 127 addresses transferred more than 38,000 BTC to exchanges in a single move.
The average cost of these addresses is in the $55,000–$65,000 range; based on the current price of $81,000, the average profit margin is 25%–47%.
Short-term coins are being distributed, and profits are being realized.