#数字货币市场回调 Ethereum's recent operations are quite something. On December 3rd, the Fusaka upgrade, with the core technology called PeerDAS—put simply, it allows validation nodes to bear significantly less bandwidth pressure, reducing it directly by 80%. Even more aggressive is the BPO fork, which allows a single Block to accommodate blob data increasing from 9 to 21, theoretically reducing layer 2 network transaction fees by another 40 to 60 percent.

The market reaction is quite genuine. The European asset management giant Amundi, which manages $2.75 trillion, recently launched an Ethereum tokenized fund; another institution with a scale of $6 trillion directly stated that this upgrade is a "turning point for the altcoin ecosystem". On-chain data also reveals some clues, as a giant whale recently made a single purchase of $13.6 million, acquiring over 3,300 ETH.

The timing is quite subtle. If we look back at historical data, we find that the probability of a significant market turning point in Ethereum in December is close to 80%, and now it just happens to be right at the bottom of the 3.5-year cycle. The technical analysts are drawing a 180-week time window there, calling it the "last entry opportunity"—this is just something to listen to, as the market has never lacked for "last opportunities."

As for the price targets, the numbers given by analysts range from 4650 to 5400 USD, and some banks have even called out 8000 USD for 2026. To be honest, these predictions seem more like adding fuel to the fire of sentiment. Technical upgrades can indeed enhance the fundamentals, but whether they can translate into price depends on the macro environment and market liquidity.

Is it the right time to enter the market now? It depends on whether you believe that the technical narrative can support the valuation.