Recently, there have been quite a few new developments in the ETH spot market. Continuous inflows into ETFs have increased direct demand for the spot, and this buying pressure is gradually pushing prices higher. Historically, whenever similar capital inflows occur, ETH often breaks through key levels, with some analysis pointing to the $3,600-$4,700 range as the next potential target.

Even more interesting are the actions at the institutional level. Large asset management firms like BlackRock entering the market are often seen as strong bullish signals. In the short term, this could trigger a price rebound, and in the long term, some also believe this is a redefinition of ETH—shifting from a simple trading asset to a strategic resource more akin to "digital oil."