Ethereum (ETH) had already broken through the $4700 price point before the US stock market opened, and this momentum has intensified market expectations for it to break the historical high of $4860.

The current price level has surpassed most of the previous trapped positions, which means there may be some profit-taking pressure in the short term. Both bullish traders and spot holders may consider taking some profit at this price level.

However, institutional investors tend to exhibit more long-term and stable behavior. They may take this opportunity to collect the chips sold off by retail investors, further increasing their positions. This behavior may somewhat offset the selling pressure brought about by profit-taking and provide support for further increases in ETH.

For ordinary investors, it is even more important to remain calm at this time and closely monitor market trends, rather than blindly chasing highs or panic selling. The fundamentals of Ethereum remain strong, and its dominance in the decentralized finance (DeFi) and non-fungible token (NFT) sectors is still solid.

With the continuous upgrades and improvements of the Ethereum network, its long-term development prospects remain optimistic. However, investors should also be aware that the high volatility of the cryptocurrency market means that prices may experience significant fluctuations. Therefore, when making investment decisions, it is essential to fully consider the risks and manage asset allocation and risk.