The cryptocurrency market has been continuously hot lately, with the development trends of Ethereum and Bitcoin attracting attention.

The price of Ethereum is repeatedly contested in the range of 3700 to 3900 USD, with the battle between bulls and bears becoming increasingly intense. Market data shows that if it breaks through 3900 USD, it may trigger a large-scale short liquidation; conversely, if it falls below 3700 USD, it may lead to significant losses for long positions. It is worth noting that the on-chain activity of Ethereum is approaching historical highs, with significant increases in both trading frequency and volume, indicating that large capital is actively entering the market.

Regarding the future trend of Ethereum, the market generally believes that it has entered a critical decision-making phase. If it can firmly stand above $3900, it may usher in a new round of upward momentum; however, if it falls below the support level of $3700, it may face a short-term correction, but the medium to long-term development prospects are still widely optimistic.

At the same time, the Bitcoin market is undergoing profound changes. The large-scale entry of institutional investors has sparked intense discussions among market participants. Some early investors have expressed concerns that this may affect the original intention of Bitcoin; however, another viewpoint argues that institutional participation is a necessary step for Bitcoin to move towards the mainstream.

The launch of the spot ETF is undoubtedly an important milestone for the Bitcoin market. This move significantly reduces the price volatility of Bitcoin and may gradually eliminate short-term speculators. Some analysts predict that through a long-term cycle of rises and falls, the price of Bitcoin is expected to reach a height of $100,000 within the next decade.

However, the launch of the ETF is also seen as a "double-edged sword." Although it benefits market stability and long-term development, it may also cause Bitcoin to lose the dramatic price surges it once experienced.

Overall, the cryptocurrency market is in a transformation period. Ethereum is facing a critical price breakthrough point, and investors need to closely monitor market signals. Bitcoin, on the other hand, is gradually shifting from a niche asset to a mainstream financial instrument, driven by institutional funds and ETFs.

Regardless of how the market changes, rational analysis, risk control, and patient waiting are fundamental principles that investors should adhere to. In this rapidly changing market, only by accurately grasping the market rhythm can one achieve success in the long-term game.