The cryptocurrency market has recently exhibited a complex dynamic pattern. Ethereum's price has broken through the 3700 USDT threshold, with an increase of over 60% in the past 90 days, a strong performance mainly attributed to the active entry of institutional investors. Data shows that institutions have absorbed about 1.6% of the total supply of Ethereum, especially after the launch of the spot ETF, which has led to even stronger demand.

At the same time, the Bitcoin market is facing consolidation pressure. Long-term holders are starting to exit, and coupled with the recent large-scale capital outflow from spot ETFs, this may lead Bitcoin into a low volatility consolidation phase in the short term. Nevertheless, industry insiders still maintain an optimistic outlook on the long-term prospects of Bitcoin.

Although the price of Ripple (XRP) has recently declined, the market maintains an optimistic outlook on its future performance, with some analysts even predicting that its price may rise to 5 USD. However, this prediction has also sparked some controversy, reflecting differing opinions in the market about XRP's future trend.

It is worth noting that the overall encryption currency market has dropped by 6.7% this month, but this is generally seen as a temporary market cooling rather than a reversal of long-term trends. On the regulatory front, the International Monetary Fund (IMF) has suggested incorporating Bitcoin into GDP calculations, a move that could further integrate Bitcoin into the mainstream economic system.

In terms of institutional collaboration, traditional financial giant JPMorgan has partnered with cryptocurrency exchange Coinbase to jointly support stablecoin operations, highlighting the ongoing interest of traditional financial institutions in the digital asset space.

In terms of technological innovation, the Ethereum Foundation is advancing the "Scale L1" plan, aimed at enhancing the performance and scalability of the mainnet. Additionally, the Hedera (HBAR) project has recently made significant progress, with its token price soaring 40% over the past week, demonstrating the market's enthusiastic response to technological innovations.

These diverse market dynamics and development trends reflect the continuous evolution and maturation of the encryption currency ecosystem. Investors and market participants need to closely monitor these changes to better grasp market opportunities and respond to potential risks.