Bitcoin surges towards the 100,000 mark, while Ethereum remains oscillating around 3,400. Many have already shouted themselves hoarse. But from a different perspective, this might actually be the most imaginative time.

Let's start with the most critical pairing in the crypto world—ETH/BTC. It has already approached a level where everyone wants to cut their losses. History has taught us a pattern: when the entire community is full of complaints, it often signals a trend reversal. This cycle is no different.

Next, look at the movements on the institutional side. Many are focused on Bitcoin ETFs, but in recent weeks, the flow of funds into Ethereum ETFs has quietly reversed. Institutional players are sharp—Bitcoin is so expensive now, shifting to this "second-tier core asset" isn't very unreasonable, is it?

Finally, there's an underlying logic that's easy to overlook—activity on layer 2 networks like Base and Optimism has picked up. Ethereum's core business model of collecting rent hasn't changed; it's just that the price increase is still in line, and sooner or later, it will be the turn of this rally.

From a trading perspective, the 3200 level is the real critical threshold. As long as the resistance at 3550 is broken with volume, short-sellers will be collectively squeezed, and the price will directly look towards 4000+. Don't get annoyed by all the noise—when will Ethereum's late-stage rally come? It's just a matter of time.