If you're going to write, write it thoroughly (Summary Edition) At the end of the first tweet, I mentioned: ETH showed a clear bottom around the $1,500 low. This wasn’t just a casual statement but rather a judgment based on comprehensive data. Here’s a breakdown of the three tweets: 1. Whether it’s investors selling at a loss or taking profits, the remaining holdings are already quite limited, significantly lower than during the previous two bear market bottoms — this is from the supply-side perspective. 2. Some steadfast believers have been accumulating more tokens as prices dropped, and their total holdings have surpassed previous all-time highs — this is from the perspective of stock demand. Reference link: https://((x.com))/Murphychen888/status/2088526009297756366 3. Large accounts are gradually monopolizing supply, concentrating around the $2,700-$2,800 range. This is related to BitMine and on-chain staking; these large holdings, which are not sensitive to price, are unlikely to turn into selling pressure anytime soon — this is a structural advantage. Reference link: https://((x.com))/Murphychen888/status/2088847209932665275 4. The whale cost basis is between $1,900-$2,400, while $1,500 is already a clear negative deviation, which has triggered capitulation sentiment that helps flush out panic sellers. Based on the principle of mean reversion, there will inevitably be a positive deviation in the future — this is an objective rule. By observing ETH’s comprehensive data from different angles, the logic forms a closed loop. I hope this can provide some helpful reference for your investment decisions.