The market has been truly confusing lately — a certain asset management giant bought up $600 million worth of BTC and ETH Spot in just three days, and the exchange's inventory is visibly decreasing. As a result, when the Fed chairman stated that there is no rush to adjust the Intrerest Rate, the market evaporated a direct $1.2 billion.

However, upon calm reflection, panic selling often creates opportunities. The actions of this top Wall Street institution have not stopped at all—they have already surpassed the $100 billion mark in their Bitcoin ETF, and they hold nearly 10% of the circulating supply of Ethereum. At this rate of buying, the Spot supply on the exchange will only continue to decrease, and by Q4, a situation of supply not meeting demand may indeed arise.

Ethereum is more worthy of attention: The gas limit plan will increase directly from 15 million to 60 million, leading to a qualitative leap in network performance. A look back at the historical record shows that every major technological upgrade has resulted in substantial growth — after the Byzantine upgrade in 2017, it increased by 367%, after the Berlin upgrade in 2021 it increased by 173%, and the wave in May 2025 even surged by 281%.

The current market environment is actually quite interesting: the probability of a rate cut in December is as high as 86%, the Fusaka upgrade is on the verge, technical bottlenecks are about to be broken, and there are expectations of liquidity easing. Large institutions are entering the market with compliant funds, either following their products or digging into those small ecosystems that haven't been noticed yet.

Is this adjustment a washout or a turning point? Did you buy the dip or cut your losses last night?