Why is the new high of ETH very important for the altcoin market? 1) As a leading project in technology narrative, the return of market confidence in the technology narrative of the altcoin market should be based on the market's trust in ETH's technology roadmap and product protocol application vision. Ethereum, which has long been affected by low prices, can only ignite its confidence in technology narrative leadership again with a new high sentiment; 2) The production of ETH is not limited to a single technological narrative project. The technical logic connections between its large ecological projects, TVL liquidity composability, mutual pricing and evaluation system are all determined and directly influenced by the market fundamentals of Ethereum. The rise of ETH has a ripple effect on the whole system; 3) The ETH ecosystem has accumulated too many old narratives that did not meet expectations, whether DeFi can revive for the second time, whether NFT can stir up a new wave of art, whether layer2 really has Mass Adoption value, whether RWA's new narrative can lead the main upward trend, and so on. During market downturns, these narratives that are overly suppressed by emotions, once the logic of ETH breaking new highs in valuation is fixed, may trigger a devastating cycle of market movements;