The recent Ethereum movement is, to be honest, quite interesting.

From 2840 rising to 2990, now standing directly at 3070, each step is very solid. It is not the type of rapid increase that then goes back down unrealistically, but a support level built with real money.
Why is the market suddenly so responsive? Some key factors to consider:
**Liquidity expectations are increasing**
The probability of an interest rate cut in December has been wagered by institutions at 86%. What does this mean? The dollar door is loosening, and funds need to find a place to go. The stock market, bond market, crypto market, money will surely flow into some corner, and assets like ETH are naturally a holding pool.
**The Pattern of Upgrade Cycle History**
If you look back at the previous K-line chart, you will know that several times the significant increase of ETH has always been accompanied by a clear rise:
• Upgrade Bizantium 2017, the price rose from 300 dollars to 1400
• Berlin Upgrade 2021, starting from 1600 and reaching a maximum of 4371
• Cancun Update 2024, 2000 directly becomes 4000
On December 3, another update was implemented. Will this be a catalyst for the market again? At least the historical data is there.
**Subtle changes at the policy level**
The next potential Fed chair seems to have been set, namely Kevin Hassett. This man has consistently supported aggressive interest rate cuts and maintained a loose monetary policy. If he truly takes office, the benefits for risky assets are already clear. Policy expectations often reflect in prices earlier than the policy itself.
**The funds have already been detected**
The market always moves faster than the news. When everyone starts talking about "ETH going crazy", the smart money has already completed their placements. Now this position is neither the peak nor the lowest point, but at least it is still at the beginning of the developing story.
Of course, all analysis is not a buy signal. The market is always full of variables; it's just that from the existing data and logic, ETH's movement this time does have some real support. As for how to operate, it still depends on each person's risk preference and position management.