#成长值抽奖赢iPhone17和周边

From a macro perspective, the new Fed Chair is more inclined toward financial innovation, and with rising expectations of interest rate cuts, this could indeed bring a liquidity revival to crypto. On the other hand, the panic selling triggered by the 1011 cascade liquidation and Japan’s rate hike has largely been flushed out, and the marginal impact of bearish news is also diminishing.
However, what truly determines the shift from “bear to bull” is whether mainstream capital starts reallocating. ETH has yet to show a strong independent rally, indicating that incremental capital remains cautious.
So my assessment is:
The systemic risks of the bear market have come to an end, and the emotional bottom has passed, but a full recovery still requires a confirmed trend in ETH. If ETH can catch up and break through key levels, then the second phase of this bull market will have truly begun. Otherwise, it remains a structural rally, not a full-blown bull market.