US stocks were closed over the weekend, and there were no major macroeconomic negatives, but cryptocurrencies plummeted. From the results, it's still a liquidity issue—three large sell orders within 12 hours triggered leveraged liquidations, with BTC dropping from 84k to 78k without any resistance. In such extreme conditions, ETH's volatility is even greater. Even though I don't subscribe to the four-year cycle theory, the reality since last October is that we've entered a bear market, with BTC down 38% and ETH down 47%. Expecting a short-term reversal in a downtrend is unrealistic.

However, the broader trends of stablecoins and tokenization remain unchanged, and my original reasons for investing in ETH haven't shifted. Like other industry-disrupting drivers, the realization cycle won't happen overnight, but change is constantly unfolding—just look at how Robotaxi has been discussed for a decade. Waiting for narratives to play out while being willing to bear the risks.

$IShares Ethereum Trust ETF(ETHA.US)

$BitMine Immersion Tech(BMNR.US)