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There are mainly three driving forces behind this big pump: #加密市场反弹#
Firstly, it is a strong rebound after the previous sharp decline.
The ETH upgrade was successfully completed.
Third, there are too many short positions, which are just being harvested by the market.
Recently, don't easily short Ethereum; this round of market movement isn't over yet.
The strongest altcoin season has officially begun, and the altcoin index broke through a key resistance level yesterday. This breakthrough is similar to the two occurrences in October last year and November this year, where each breakthrough was followed by a big pump in altcoins, while BTC's market share significantly declined.
The difference is that this breakthrough occurred earlier. In the previous phase, the altcoins dropped 90%, and after the panic, the frenzy is about to arrive.
In the next two to three months, altcoins are expected to experience a big pump, with ETH and its ecosystem, SUI and its ecosystem, AI, and MEME leading the rise.