Let's talk about Ethereum:

The trend of Ethereum in 2025 is likely to show a "first suppression and then rise" possibility. In the short term, it is constrained by macroeconomic pressures and intensified competition, but technological upgrades and potential favorable policies may drive recovery in the second half of the year.

After the Dencun upgrade in 2024, Ethereum's supply turned to inflation (annual growth of about 0.37%), undermining its "ultrasound money" narrative and leading to a decline in investor confidence.

Bitcoin ETFs continue to attract inflows (such as BlackRock's IBIT), while Ethereum ETFs see net outflows, indicating a waning preference for ETH among institutional investors, which exacerbates downward price pressure.

Due to the rise of competitors, Solana (SOL) has attracted a large number of users with meme coin trading and low fees, leading to a significant increase in TVL; new public chains like Sui are also eating into the market share, forcing Ethereum to maintain its competitiveness through technological upgrades.

Ethereum plans to implement the Pectra upgrade on May 7, 2025, integrating the Prague and Electra upgrades, introducing technical improvements such as EIP-7702 (optimizing wallet experience) and EIP-7251 (increasing validator staking limits), aimed at addressing scalability and high Gas fee issues.

若升级成功,可能提升网络效率并吸引开发者回流,或推动价格回升! 如果升级推迟或失败、或加上策略监管收紧或全球经济衰退流动性减弱(hike, etc.), 风险价 or possibly fall below 1000 USD,创2023年以来新低也不未。

Strategy: Focus on technical signals, observe whether the ETH/BTC ratio forms a double bottom reversal, and whether it can break through the 50-day moving average resistance. It is recommended to dynamically balance risks with one hand red heart and two hands prepared, paying special attention to the effectiveness of the Pectra upgrade and changes in market liquidity. #五月行情预测