#数字资产市场动态 Can Ethereum break through the 4000 level next month? From several perspectives, it's not just empty talk.

First, let's look at the capital aspect. Major Wall Street institutions, like BlackRock, have been quietly increasing their holdings of spot ETFs. This is not small-scale activity but real buying with genuine funds. Meanwhile, the global interest rate cut cycle is underway, and liquidity in risk assets is clearly increasing. As the most ecologically rich public chain, Ethereum naturally becomes a key focus for capital.

The supply and demand side is even more interesting. The Ethereum balances on exchanges have fallen to a historic low, and there aren't many ETH truly available for trading in the market. Plus, a large amount of ETH is locked in staking, making the actual tradable supply quite scarce. As soon as some buy orders come in, prices are likely to be pushed up easily. The more active on-chain activity there is, the more the burn mechanism is triggered, continuously reducing the supply—such extreme supply compression makes it hard to see a downside in the short term.

From the sentiment and technical perspective, Ethereum is relatively low compared to Bitcoin, with a long-standing demand for a rebound. Moreover, the Layer 2 ecosystem has been very hot recently, with user numbers on networks like Base and Arbitrum surging. Ultimately, the value will still feedback to the underlying Ethereum, which is an irreversible logic.

Of course, it's also important to be aware of risk points. If regulators change staking policies or if sudden macroeconomic downturns or geopolitical conflicts occur—black swan events—then all the logic needs to be recalculated. But from the current pattern, with low supply, strong buying interest, and the demand for exchange rate recovery, next month indeed has the conditions to push for a rally.