Ethereum-Led Rally to $3.7T — Buy Dips, Manage Risk

I see a clear Ethereum-led rally that pushed crypto market capitalization to about $3.7 trillion in July, supported by strong on-chain flows, corporate allocations (e.g., a $75M plan from Jeffs'Brands) and renewed institutional interest (Bullish, BNC buying BNB). Macro signals are mixed: PPI drove markets to price a ~92.5% chance of a 25bp Fed cut in September, while Fed speakers warn it’s too early to act and reject larger cuts.

Altcoin sentiment sits near historic lows, suggesting 2025–2026 could be more constructive, and staking dynamics are shifting — Lido’s share fell to ~24.4% while Figment and others gain. Volatility remains high (ICP swing, Hyperliquid’s accumulating short losses), and tokenized equities still face problems.

I remain constructive on crypto but cautious: buy-the-dip has worked since late 2022, yet I would avoid high leverage, dollar-cost average into weakness, and monitor Fed rhetoric, staking concentration, and major exchange/market developments closely.