Trader Eugene: I bet that the market will break out this week, and I have gone long on ETH again. ETH is the clearest bet at the moment

Odaily Planet Daily News: Trader Eugene posted in his community: "I bet that the market will break out this week, and the main target I chose after careful consideration is ETH. Although I vowed not to touch it again in late 2024 and early 2025, I now realize that ETH's position structure and market tailwinds have changed significantly. The main logic is summarized as follows: 1. Structural positions are extremely light: In April 2025, ETH suffered a market blow, falling from $4,000 to $1,300, and the ETH/BTC exchange rate also hit a multi-year low of 0.018. The plunge was accompanied by a full-scale capitulation sell-off by traders and early whales. Since then, ETH has been traded in a significantly different way than in the past two years. Today, except for developers, almost no one regards ETH as a core position, and most traders even refuse to touch it. Because of this, from the perspective of the high time frame (HTF) structure, the current ETH position is almost the lowest in three years. 2. ETH Will become the stablecoin and infrastructure main chain that institutions and traditional finance bet on: Although this statement has been mentioned frequently recently, I was skeptical at first, but if we look objectively at the regulatory progress that the United States has actively promoted recently, it is not difficult to speculate that institutions will sooner or later find new configuration directions outside of BTC. ETH currently hosts more than 90% of stablecoins, and this dominance is likely to continue. Considering the higher risks faced by other L1s, there is almost no commercial reason to switch tracks. In addition, traditional financial representatives such as Tom Lee have also begun to express their recognition of ETH, and the US Stablecoin Act is being passed. ETH is gradually gaining support from the perspective of "legal and compliant" institutions. 3. ETH prices have a lot of room for catch-up: Although this point itself may not be decisive, once the market starts momentum, the "lag" of ETH prices compared to BTC can easily become a point of communication. Buyers of traditional finance often have "information lags", which means that the narrative of "it's not too late to buy ETH now" may become popular. If ETH returns to its historical high (about 85% increase), ETH/BTC will only return to 0.044 in September 2024. level. Even if ETH/BTC does not rise, as long as BTC breaks through $110,000, the bull market is likely to restart, and ETH usually does not lag behind during this period. ETH's usual weak phase often occurs when BTC is sideways or falling. After careful consideration, I firmly believe that from a medium-term structural perspective, ETH is a clear bet and has built a position accordingly. ”