The recent volatility in the cryptocurrency market has raised concerns among many investors, especially the sharp fluctuations in the price of Bit around 115,000 USD. However, upon deeper analysis of the current market situation, we can identify some encouraging signs that suggest the real market frenzy may just be beginning.

First of all, the market has shown an astonishing ability to withstand pressure. Last week, a large-scale sell-off involving nearly 9 billion USD and 80,000 Bitcoins only led to a brief drop of 3% in coin prices. This is in stark contrast to the 32% crash triggered by the German government's sell-off earlier, fully demonstrating that the current market's buying depth and support capacity have improved significantly. This strong market resilience undoubtedly instills confidence in investors.

Secondly, the Ethereum market is experiencing a wave of institutional investment enthusiasm. Data shows that recently the increase in ETPs (exchange-traded products) and publicly listed companies' holdings of Ethereum has reached 32 times the new supply during the same period, with approximately 2.83 million ETH being snapped up. Several institutional investors are ramping up their investments in Ethereum, such as Sharplink planning to invest $5 billion, Bit Digital raising $1 billion through an equity offering, and BTCS Inc even raising its financing target to $225 million. This large-scale influx of institutional funds indicates that the price of Ethereum is likely to break through $4,000, starting a new growth cycle.

Finally, although some altcoins are currently performing mediocrely, historical experience shows that this may be the last adjustment before the bull market arrives. Investors should not feel despair about the current market conditions; instead, they should maintain patience and confidence.

In summary, although the market may still experience fluctuations in the short term, the cryptocurrency market is showing strong upward momentum from multiple dimensions. The active entry of institutional investors, the significant enhancement of market absorption capacity, and the patterns of historical cycles all indicate that a new bull market may be approaching. For investors, maintaining rational observation and moderate participation will be a wise choice.