The current market has shifted from a one-way rebound to a stage of three-way competition involving institutional buying, on-chain giant whales, and short-term speculative capital.

BTC continues to receive sustained support from institutional funds, while ETH is facing a test of sell pressure from whales, as the altcoin sector is taking in risk capital that was previously “risk资J.”
What truly determines the next direction is not how much the price rises, but whether support around 63,000 and 1,700 can continue to hold, and whether there are clear signs that ETH selling pressure is weakening.