【The night before 94 in 2017, the market had the same expression】
Back then, BTC and the altcoins flew together. ETH hovered around the 240 mark for almost two months. Everyone was asking, “Is it going up or down?” In the end, everyone knows what happened—one knife after 94, and the altcoins got halved: halved for some, zeroed out for others.
But what I want to talk about is another detail: during that round, BTC’s market share pushed past 52%. The altcoins were drained—ETH/BTC fell to a historical low. Market sentiment was extremely greedy. Guess what—whenever everyone is most optimistic, something is likely to go wrong.
Now I’m seeing this scene again. BTC’s dominance is at 59%; ETH has pulled back nearly half from its ATH. The Fear & Greed Index is 71, and it’s been in the Greed zone for consecutive days. Over 24 hours it’s up 0.5%, and over a week it’s up 8.4%. Is that big or small? Not too big, not too small—just sitting between 2432 and 2609.
What’s interesting is the ETF-side data. This time, Bitcoin spot ETFs have flowed in $2.8 billion. The Ethereum ETFs are basically tracking in sync, matching day by day. I’ve been watching this signal for a long time—institutional money is continuously buying, and that’s different from retail chasing pumps. But here’s the catch: the chips bought by ETFs won’t move around in the short term. So ETH is basically being propped up for now, yet there isn’t enough upward momentum.
What truly changed my perspective was that proposal about quantum attacks. Developers suggested adding anti-quantum keys to ETH staking, and permanently disabling the existing formats. Most people in the space brushed it off as just technical news. I think this is actually the real thing worth thinking about.
Honestly, quantum computing is still a long way from being a real threat to blockchains, but what’s the logic behind this proposal? It’s ETH positioning itself for long-term security in advance. Once it’s implemented, validators are willing to keep staking, institutions are willing to hold long term—confidence in the entire ecosystem will be different. From a commercial logic standpoint, this is ETH preparing for “value storage a decade from now,” not short-term speculation.
But there’s one thing I haven’t fully figured out: with BTC ETF inflows so strong right now, can ETH keep up with this wave of benefits? Will the market’s attention get pulled away by BTC?
What are you all watching right now?
Back then, BTC and the altcoins flew together. ETH hovered around the 240 mark for almost two months. Everyone was asking, “Is it going up or down?” In the end, everyone knows what happened—one knife after 94, and the altcoins got halved: halved for some, zeroed out for others.
But what I want to talk about is another detail: during that round, BTC’s market share pushed past 52%. The altcoins were drained—ETH/BTC fell to a historical low. Market sentiment was extremely greedy. Guess what—whenever everyone is most optimistic, something is likely to go wrong.
Now I’m seeing this scene again. BTC’s dominance is at 59%; ETH has pulled back nearly half from its ATH. The Fear & Greed Index is 71, and it’s been in the Greed zone for consecutive days. Over 24 hours it’s up 0.5%, and over a week it’s up 8.4%. Is that big or small? Not too big, not too small—just sitting between 2432 and 2609.
What’s interesting is the ETF-side data. This time, Bitcoin spot ETFs have flowed in $2.8 billion. The Ethereum ETFs are basically tracking in sync, matching day by day. I’ve been watching this signal for a long time—institutional money is continuously buying, and that’s different from retail chasing pumps. But here’s the catch: the chips bought by ETFs won’t move around in the short term. So ETH is basically being propped up for now, yet there isn’t enough upward momentum.
What truly changed my perspective was that proposal about quantum attacks. Developers suggested adding anti-quantum keys to ETH staking, and permanently disabling the existing formats. Most people in the space brushed it off as just technical news. I think this is actually the real thing worth thinking about.
Honestly, quantum computing is still a long way from being a real threat to blockchains, but what’s the logic behind this proposal? It’s ETH positioning itself for long-term security in advance. Once it’s implemented, validators are willing to keep staking, institutions are willing to hold long term—confidence in the entire ecosystem will be different. From a commercial logic standpoint, this is ETH preparing for “value storage a decade from now,” not short-term speculation.
But there’s one thing I haven’t fully figured out: with BTC ETF inflows so strong right now, can ETH keep up with this wave of benefits? Will the market’s attention get pulled away by BTC?
What are you all watching right now?