#ETH走势分析 $BTC $SOL

If Ethereum plays its privacy card, will it directly squeeze retail investors out of the market? Can the $8,500 level still hold?

Many people are only focused on the speed improvements and cost reductions brought by the Fusaka upgrade, thinking this wave of bullish news has already played out. But honestly, at most, this just means the infrastructure is getting fixed. The real game-changer—the privacy protocol—is just starting to be dealt 🎯

What's the current situation? Every on-chain operation is as transparent as a glass house. Every transfer and position change by institutions and whales can be dissected in minutes by on-chain data analysis tools. For players holding tens or even hundreds of millions of dollars in assets, this is simply unworkable. Think about it: what fund manager would want the whole world to monitor their trading strategy in real time?

Once the privacy layer is truly operational, the landscape will be completely different. Large funds can enter, rebalance, and strategize quietly, without exposing their intentions or triggering market copycats. This level of confidentiality is irresistibly attractive to traditional financial institutions and ultra-high-net-worth individuals 💼

From another perspective: Fusaka solves the issue of “can it be used,” while the privacy protocol addresses “who dares to use it.” When the two are combined, along with the ongoing deflationary mechanism, the capital siphoning effect could exceed everyone’s expectations. So the number 8,500? It might just be the launching pad for a new round of narratives.

What do you think? Will privacy become the dividing line for the next market cycle? 💬