From 23.10-24.3, the Federal Reserve will officially suspend interest rate hikes in September 2023. Suspending interest rate hikes has historically been beneficial for the risk market. After such a long period of interest rate hikes, I can finally breathe a sigh of relief. Then through BTC spot ETF, everyone knew about it. At that time, after the macro environment suspended interest rate hikes, there were actually not so many games. The economy was doing well, and the unemployment rate remained low from November 2023 to April 2024, all below 3.9, indicating that interest rate cuts were still far away. The market leader is ETF, which is crucial for BTC The ETH and other cryptocurrency markets are milestone events. At that time, SOL had just begun to trigger its second spring 21 years later, with some popularity on the chain, but not very high. At that time, BTC maintained its sentiment, and the rise of ETH led to the rise of secondary knockoffs. It can be carefully compared that both waves were basically driven by ETH's rise, while secondary knockoffs followed suit. After 23 years of dormancy and fluctuations, the shanzhai market has washed up and waited for emotions to rise before cutting leeks. I have also calculated why I said we should pay attention to public chains AI、MEME。 These two waves of second tier coins that have risen 5-10 times or more are as follows: id pendle arkm wld pepe floki ordi wif sei tia metis tao bonk。 You see, these three tracks are the majority. And now, this wave is brought about by the general election, but as the emotions of the election gradually dissipate, it becomes macro level. At macro level, it happens that there will be a game of whether to raise interest rates in the short term, and a game of whether not to lower interest rates in the short term. Plus the election of Trump, the English area more hype BTC, liquidity goes to BTC, and the SOL chain has become more popular, there is no hype ETH... Combined with criticisms of the ETH Foundation and other factors, market funds are divided, with some going to BTC and others to SOL But ETH has also increased from 2400 to 4100, so it can't be said that it hasn't. It's just that it didn't reach the top, after all, BTC is 100000, ETH is not even 5000, and the neighboring SOL is booming, so the money is just chasing profits. Returning to the process of ETH's rise, one can carefully compare 11.6-12.6, up to a maximum of 12.16. Many second tier popular race track knockoffs also rose along with ETH during this period, especially from 11.21-12.6. From December until now, due to the dissipation of election sentiment and the macro level game, the game is now clear. Trump's inauguration is good again. I hope that the next market and secondary plus chain will be like February and March 2024. I can only hope that ETH will give some help, that is, hype the pledge of ETH. Hope it brings a wave. this is it.