4E: ETH exits staking to reach new high, Saylor may announce a new round of BTC holdings increase On August 18th, according to 4E observations, the withdrawal of Ethereum validators from the queue reached 855158 ETH on Friday, setting a new historical high. Analysts believe that the rapid accumulation of release volume may become an important factor in ETH's recent pullback, as the discount of pledged derivatives and liquidity risks may bring about chain liquidation and spot selling pressure. At the same time, MicroStrategy founder Michael Saylor once again released Bitcoin Tracker information on the X platform and hinted that a new round of BTC increase data may be disclosed next week, with the caption "Insufficient Orange Quantity". The market expects the company to continue its long-term accumulation strategy. In terms of macro policy in the United States, the significantly higher than expected PPI in July disrupted the market's interest rate cuts. But if Powell sends a dovish signal at the Jackson Hole Global Central Bank Annual Meeting and announces a rate cut in September, the main line of interest rate cut trading in the US stock market may become clearer, and interest rate sensitive sectors are expected to strengthen again. 4E reminds investors that both ETH staking unlocking and BTC strategic increase in holdings may bring structural changes to the market. It is recommended to continue monitoring on chain liquidity and macro policy trends, allocate positions rationally, and grasp the long-term and short-term rhythm.