The price of Ethereum (ETH) has shown strong resistance to falls, a phenomenon that encompasses complex market dynamics. Recently, the introduction of the stablecoin bill and the large and beautiful bill has brought new variables to the crypto assets market. The effects of these regulatory measures are gradually becoming apparent, one notable trend being public companies using dollars to purchase U.S. Treasury bonds to issue stablecoins, which they then use to invest in U.S. stocks.

This operation not only pushed up the stock price but also enabled the company to use its shares as collateral to obtain more dollars, creating a self-reinforcing cycle. Although this financial innovation may bring considerable returns in the short term, it also significantly increases systemic risk.

High leverage and circular arbitrage strategies can drive asset prices up in the short term, but they also make the market more fragile. Once any adverse factors appear, this highly leveraged structure may collapse rapidly, causing a chain reaction.

Therefore, although the price resilience currently displayed by Ethereum is impressive, investors must remain vigilant. The complexity of the market and potential risks cannot be ignored, especially in the context of the continually changing regulatory environment. In the future, achieving a balance between innovation and risk control will be a significant challenge faced by participants in the Crypto Assets market.