From the exchange rate of ETHBTC, we can clearly feel that we have already stepped into the second stage. No doubt, this is just the beginning~

Many people used to be very confused, why Bitcoin rose, Ethereum was not soft, and the altcoins were all pulled by incomprehensible dogs. This is very normal. Remember we said in the first half of the year that from January 1 to July 1 this year, there were only 6 mainstream altcoins that outperformed Bitcoin. Old fans should remember it.

Divided by election day, before election day, we were in Phase Overlap 1-2. Funds flowed into ETH but could not keep up with the pace of BTC, and they were repeatedly pulled. This can be confirmed by the net inflow and outflow data of ETH spot ETF.

At the beginning of the second stage, it will take some time before the fourth stage when various altcoins will be rampant. This time may be a few months or a year, no one knows. But we may be able to find some clues from ETH's past for some reference.