#密码资产动态追踪 Ethereum's recent surge is indeed quite fierce. Over the past day, ETH has risen by more than 7%, jumping from $3108.60 directly to $3325.82, with trading volume also soaring. However, the story behind these numbers is worth deeper analysis.

Let's start with the good news. Major institutions are aggressively accumulating; BitMine Immersion Technologies alone has added 92,160 ETH in staking, equivalent to $292.27 million, holding a position of $4.77 billion just in staking. On the other side, the vitality of the Ethereum ecosystem is also being unleashed—yesterday, the number of new wallets hit a record high, increasing by 393,600 in a single day, indicating that retail investors are continuously pouring in.

But there are pitfalls too. From a technical perspective, $ETH's RSI has soared to 90.98, which is a clear overbought signal, suggesting a short-term correction risk. Looking at institutional movements, a large firm has quietly transferred 5,692 ETH to exchanges recently, a move often indicating potential selling. Additionally, Standard Chartered Bank has revised its 2026 price target down from higher expectations to $7,500. While they remain optimistic about the long-term, this adjustment itself reflects caution.

Community sentiment is currently very bullish, with some even calling for a $10,000 target. But the problem is, when everyone is bullish, RSI is overbought, and institutions are quietly reducing their holdings, this is precisely when caution is needed. Behind the rally, volatility often brews, and major assets like $BTC and $ETH are more susceptible to being manipulated by market makers using high enthusiasm to trap investors.

In summary, this wave of price increase indeed reflects genuine on-chain activity and institutional interest, but don’t let the gains cloud your judgment. Overbought technical indicators, large holders quietly selling, and banks lowering expectations all point to the same message—it's time to be cautious.