Yesterday, many friends asked me about the release of ETH staking. Previously, I shared data that the average purchase price of ETH spot ETFs is around $2800 to $3000, and may even be higher. Starting from 2024, ETH has broken through $4000 twice, once at $3900 and once at $3800, so there should be a considerable backlog of high priced chips. After all, many friends are expecting to break new highs like BTC. So after breaking through to $3800 this time, there should be many "fear of heights" or those who have broken through, either running away directly or partially, worried about another pullback after breaking through to $4000, which is also normal. My focus is on whether the significant increase in trading volume and purchasing power of BlackRock's IBIT is preparing to enter the second stage of building positions, or whether it is a short-term effect. The former is slightly more likely, as BlackRock investors tend to prefer long-term holdings. Take a look first. This article is sponsored by Bitget | @ Bitgetzh