The moment of ETH's makeover: from retail investor consensus to Wall Street conspiracy?

When ETH broke through 3400 USD and the exchange rate stabilized at 0.026, people realized that the 1500 USD low point held hidden secrets.
From $4000 to a crash at $1500, it washed away retail investors who had heavily invested at high levels. The incoming funds are exceptionally low-key: crypto institutions are buying in through over-the-counter distribution, ecological funds are repurchasing with staking yields, and even Middle Eastern capital is quietly entering through offshore accounts.
These funds are not for controlling ETH, but more like an ecological symbiosis — some bet on the potential of Layer 2, while others value the prospects of DeFi.
The pricing logic of ETH has changed: from a speculative game between KOLs and retail investors to a game of ecological value and capital consensus.
Looking back in the rearview mirror, this crash from 4000 to 1500 is not a signal of recession, but rather resembles a transfer of discourse power. Ethereum no longer belongs to KOLs, nor to speculators.
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But this time, is it really Wall Street that's taking over?