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#加密市场趋势# Looking back on the past, it feels like a different world. I have witnessed too many ups and downs in the crypto market, and now seeing Ethereum once again approaching its historical high, I can't help but feel a wave of emotions. Those retail investors who were once anxious are now repeating the same mistakes. The market is always like this, constantly jumping back and forth between fear and greed.
In November 2021, Ethereum reached a peak of $4891, followed by a long bear market. Now, it is only 6.4% away from its all-time high, yet retail investors are constantly selling. This reminds me of the two extreme greed-induced corrections in mid-2025; history is always remarkably similar.
Whales are quietly accumulating, taking advantage of retail investors' panic to buy at low prices. Market sentiment has almost no resistance, which indicates a breakthrough is imminent. But we all know that blindly chasing highs and cutting losses is often a big taboo. Maintaining rationality and doing good risk management is the way to survive in the long term.
Throughout the history of encryption, every cycle of bull and bear has reshaped the industry landscape. Projects that can withstand the cycles will ultimately become the vanguard of the era. Let us wait and see which projects will stand tall in the waves this time.