The crypto market seems to have returned to the wild bull market of 2017, and the boom has taken the entire digital asset world by storm. The market led by Bitcoin is no longer fighting alone. This time, established Layer 1 projects have reached new highs one after another, and every inch of the market is burning. From BNB to XRP to Tron and Ethereum, once considered “altcoins,” they are breaking through historic highs at an alarming rate and ushering in their own golden age.

All of this is as if the backlog of demand has erupted over the past few years. Market sentiment quickly turned optimistic, and capital poured back into these projects with a strong technical heritage. Just like the 2017 market frenzy, this time, the surge in established Layer 1 is not only a doubling of prices, but also a profound transformation of the entire crypto ecosystem and market landscape.

The current crazy rise in the crypto market is no longer Bitcoin's one-man show; instead, multiple projects with strong ecological support are on the stage.

Sorting out the shocks before the sharp rise

Over the past few days, Bitcoin CME futures and Binance 0328 trading contracts have broken through the psychological barrier of $100,000, leading the entire market into a new round of frenzy. However, Bitcoin's sharp rise did not happen overnight; it is the price fluctuating at a high level that is preparing for the next take-off. This turbulent arrangement not only did not dampen the market's enthusiasm for Bitcoin, but instead fully prepared it for future breakthroughs.

After Bitcoin broke through $99,600, although there was a brief correction in the market, this wave of adjustments did not cause panic. Instead, many investors see it as an opportunity to buy on dips and actively pour into the market. Judging from the price fluctuations in early December, Bitcoin declined slightly in the short term, but most market participants remained optimistic and sought new opportunities to enter the market.

On December 3, Bitcoin once fell below $93,600. However, judging from transaction data, different types of market participants remained unabated in their interest in Bitcoin and used the pullback period to buy. At this point, the Bitcoin market is forming a relatively stable range. This range is clearSupport levelAnd resistance levels help it save energy at this stage and prepare for the next wave of gains.

After Bangziguo declared martial law last night and briefly withdrew, there was insufficient liquidity in the Bangzikuo market, causing Bitcoin to drop below $65,000 on the Upbit exchange for a while, while the price of Bitcoin remained around $95,000. Although this market fluctuation caused short-term shocks, it did not change investors' confidence; on the contrary, they were more convinced that this was a “healthy period of adjustment.”

Looking back at the crypto market's bull market in 2017 and 2021, the adjustment period after each sharp rise was a prelude to a violent rise.

Ethereum: the second-largest engine in the crypto market

Of all the altcoins, Ethereum is certainly one of the most promising assets. Not only were significant breakthroughs at the technical level achieved in 2024, market sentiment and capital inflows also showed an unprecedented growth trend.

As the second-largest cryptocurrency by market capitalization in the world, Ethereum follows Bitcoin, but it is widely used in various fields such as decentralized finance (DeFi), smart contracts, and NFTs, making it a core asset that cannot be ignored in the crypto market.

Since the beginning of 2021, the overall price of ETH has shown a bullish trend. Despite several adjustments and consolidation, the upward momentum of Ethereum has not changed. Currently, ETH is breaking away from its price triangle pattern and is targeting higher prices. As on-chain activity continues to grow, the price of ETH is expected to break through $4,000 and move towards the target of $8,000.

The influx of institutional funds boosts ETH into a new phase

This year, the capital inflow of Ethereum (ETH) reached a new high. Up to now, it has reached a cumulative total of 2.2 billion US dollars, breaking the 2021 historical record. Recently in particular, ETH inflows reached 0.634 billion US dollars, which significantly boosted market sentiment and reflected increased investor confidence.

The main impetus for this surge was the strong performance of Ethereum ETFs. As an investment tool, ETFs have become a popular choice for investors because they provide investors with the opportunity to participate in Ethereum investments without directly holding the digital currency. As Ethereum ETFs continue to attract large inflows of capital, institutional investors' interest is growing, further accelerating the market's focus on ETH.

Although market fluctuations remain, the overall trend of Ethereum remains bullish, and institutional participation in particular lays a more solid foundation for ETH's future growth. This is in line with the overall growth trend of capital in the crypto ETP market. Ethereum and Bitcoin are juxtaposed to become the leaders in capital inflows in the cryptocurrency sector.

Overall, the total net assets of ETH spot ETFs have climbed to $11.13 billion, further proving the market's recognition and growing interest in the importance of Ethereum as a crypto asset.

At the same time, the performance of the Ethereum ecosystem cannot be ignored. Base Network's TVL increased by $0.302 billion over the same period, further reflecting the significant increase in the liquidity and scalability of the Ethereum network. These capital inflows not only brought DeFi's TVL back to its November 2021 high, but also enabled the Ethereum ecosystem to achieve a higher degree of diversification and scalability with the increase in liquidity staking options, Bitcoin DeFi integration, and the collaborative contributions of Solana and other Layer-2 networks.

All of this shows that Ethereum's technical and ecological advantages are attracting more capital and users, driving it to maintain its leading position in the DeFi space, while injecting new impetus into the entire crypto market.

Last chance for retail investors?

Currently, the crypto market is facing an unprecedented boom. This time, the performance of altcoins is more impressive than ever. From BNB to XRP, Ethereum, and many other projects, the entire market is undergoing a profound transformation. Under the leadership of Bitcoin, altcoins have taken over and started a surge belonging to them.

This is not just a reallocation of capital, but also a reshaping of the crypto market landscape. Over the next few years, we will witness the rise of more altcoins, and their technological innovation, market application, and institutional support will bring unprecedented growth to the crypto market. For us, this is a golden age full of opportunities. Seizing this wave of raging bull markets may become a turning point in our wealth. Moreover, this will probably be the last wave of crazy bull market for retail investors.