After a month's interval, Ethereum treasury company Bitmine continues ETH staking: 2 hours ago, they deposited 101,786 ETH ($219 million) into Ethereum staking. Currently, their total ETH holdings stand at 4.595 million, with 3.142 million staked, bringing the staking rate close to 70%. The biggest problem in the current market is not that prices aren't rising, but that the gains lack quality. After the sharp decline, while BTC price is recovering, trading volume continues to shrivel. Without new narratives and lacking short-term catalysts, most altcoins are passively being pulled up by BTC and ETH rebounds with no sustainability whatsoever. What does this indicate? It signals that capital has not truly returned, and the market remains in a zero-sum game of existing liquidity. If the macroeconomic environment continues to fail to improve and liquidity cannot be genuinely released, the market will likely enter a prolonged period of oscillation and decline that exceeds most people's expectations, ushering in a much longer dead zone. $ETH

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