Ethereum has recovered above $2,000, making headlines, but the background seems to be based on a ceasefire observation in the Iran conflict. The trigger was when Trump said the conflict would be "resolved quickly," leading to buying across risk assets. Ethereum is around $2029, and Solana has also risen to the $83 range.

What to pay attention to here is that the correlation coefficient between Bitcoin and stocks has risen to 0.78. This is a strong level not seen since mid-2022, meaning cryptocurrencies are moving in tandem with the stock market. Institutional investors have also poured in over $600 million, making the movement more resilient.

However, if next week's Fed meeting results in a hawkish stance, there could be pressure on altcoins. Whether Ethereum can reach $2,500 will be a key test. If it does, it would be solid evidence of a trend reversal. For now, it looks like a temporary rebound, but we're waiting for the next catalyst.