#美联储FOMC会议 $BTC $ETH

Why did Ethereum suddenly see a surge in volume today?

A lot of people have been asking the same question these past two days: Why did ETH suddenly take off? Is this the start of a new market trend?

Let’s break this down in detail. Ultimately, there are four main driving forces working together.

**Institutions & whales are quietly increasing their positions**

On-chain data shows that recently, large addresses have been ramping up their ETH purchases, and several major institutions have started to readjust their Ethereum allocations. New funds from outside the market are gradually flowing back into major coins. To be honest, capital flows are much more truthful than words—the big players have already made their move.

**Expectations for Ethereum network upgrades are heating up**

The market has been digesting all sorts of news about Ethereum’s network upgrades—faster speeds, lower fees, increased efficiency. Every time these expectations rise, they reshape investors’ mid-term outlook on ETH’s value. In other words, people are taking a fresh look at Ethereum’s long-term potential.

**Macro risk appetite is slowly recovering**

Recently, overall market sentiment has obviously improved, and capital from outside the market is gradually returning to crypto assets. Once Bitcoin stabilizes, funds start to rotate into Ethereum, making major coins the first targets to be chased. This is the classic rotation rhythm: BTC stabilizes → funds switch to ETH → ETH surges → altcoins follow.

**Technical signals of a "bearish breakdown"**

Ethereum had already touched a short-term bottom, with repeated bottom churning and moving averages starting to converge. Once it breaks through key resistance levels with expanding volume, fueled by both sentiment and capital, sudden sharp rallies can easily occur. This is how bullish resonance happens.