Seeing the upward trend of ETH, I immediately think of the possible timing of the Ethereum led knockoff bull market Let's take another look at the relationship between USD liquidity and BTC, as shown in the figure Formula: US dollar liquidity index=[Federal Reserve's balance of assets and liabilities] - [total amount of reverse repurchase bids accepted by the Federal Reserve] - [balance of the US Treasury Department's general account held by the Federal Reserve]. In the years 16-17, the liquidity of the US dollar increased, leading to BTC bulls and knockoff bulls. However, at that time, the overall market value was low and it was easy to pull in the market After the outbreak of the pandemic in 20-21, quantitative easing (QE) led to a 90 degree increase in US dollar liquidity, while BTC and ETH surged due to narrative driven reasons, leading the way for copycat bulls Now let's look at the current situation. Although the interest rate has been cut, the US dollar liquidity is a shock, but BTC has increased. That is Trump's effort. Only the funds brought in went to BTC, so ETH didn't rise much, and there were no big imitators. You thought it was over, of course not. Looking forward to the continued rise of US dollar liquidity, leading BTC to rise, and then leading ETH to rise. It would be best if ETH has a new narrative ecosystem driven by RWA, AI, and so on, and then leads the knockoff bull market again The same overflow of liquidity can also drive up old platform currencies such as BNB and SOL led new public chains The interest rate cut cycle has already begun, look forward to expanding your balance sheet. It won't be far away, and it is currently estimated that we should be able to expand our inventory within this year. Stay tuned.