Recently, the rise of Ethereum (ETH) has明显放缓, and market sentiment has begun to diverge. There are reports that Sun Yuchen has started to reduce his holdings of ETH, while ETFs continue to purchase. The current ETH price is only 6.2% away from the $4000 mark, a level that has allowed most investors to breakeven.

In the face of the current market, investors have differing attitudes. Firm long-term holders are still waiting for ETH to break through the $4000 mark or even higher levels, while some investors who have made profits or reached breakeven are choosing to cash out. This divergence reflects the market's uncertainty about ETH's future trend.

It is worth noting that although ETH has experienced a strong rise, the market still has expectations for it to break through the $4000 mark. However, as the price approaches this important psychological threshold, some investors are beginning to adopt a cautious wait-and-see approach, and some are even looking for shorting opportunities.

The current ETH market presents a subtle state of balance. On one hand, institutional investors continue to increase their holdings through ETFs, injecting momentum into the market; on the other hand, some large holders are starting to reduce their positions, which may exert certain pressure on the market. This tug of war between forces will determine whether ETH can successfully break through the $4000 mark.

For ordinary investors, it is particularly important to remain rational in the current market environment. Whether to continue holding or choose to exit, decisions should be based on one's own investment strategy and risk tolerance, rather than blindly following market sentiment.

Overall, the ETH market is at a critical turning point. A breakthrough of $4000 could trigger a new round of rise, while a failure could lead to a short-term correction. Investors need to closely monitor market trends and be prepared for various possibilities.