The market sentiment in the afternoon for ETH is actually quite positive.

First, let's look at institutional movements: GameSquare has just announced that it will raise $70 million to increase its holdings in ETH, which is no small amount and clearly sends a "long-term bullish" signal to the market. More importantly, NASDAQ has directly submitted a proposal related to ETH staking; the involvement of such a high-level institution undoubtedly adds more confidence to the market.
Let's talk about the ETF that everyone is most concerned about: it will officially be listed on July 23, which is just a couple of days away. Considering the previous BTC ETF's first week inflow of 1.2 billion USD, if ETH can exceed expectations this time, then breaking 4000 USD is really not just talk.
On the operational level, in the afternoon, focus on the range of 3720-3760, and directly position for long orders. The first target is 3800-3850. If it can break through smoothly, further look towards the 4000 round number. The overall strategy is clearly bullish, with institutional accumulation and the listing of ETFs as the two core positives, which are sufficient to sustain the market momentum.
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