Ethereum (ETH) recently broke through the $4600 mark, a crucial price level that has become a turning point for investor sentiment. Before the breakout, there were still many skeptical voices in the market; however, once the breakout occurred, investor sentiment quickly became unified. This shift in sentiment often reflects market trends more directly than any technical indicator.

As the consensus forms, the bullish momentum begins to strengthen rapidly. Currently, the upward momentum of Ethereum mainly comes from three aspects: the increase in on-chain asset locking volume, institutional investors continuously increasing their holdings, and the growing demand for applications. The combined effect of these three factors provides sustained upward momentum for the price of ETH.

Some analysts believe that ETH is expected to reach $6000 by mid-September. This prediction is not overly aggressive but is based on a natural extension of the current market structure. As more investors recognize the potential of Ethereum, we may see more funds flowing into this area.

However, investors should also remain cautious. The cryptocurrency market has always been highly volatile; although it may continue to rise in the short term, there is also the possibility of a correction. It is advisable for investors to comprehensively consider market risks when making decisions and to develop an investment strategy based on their own risk tolerance.

Overall, this wave of increase in Ethereum reflects the market's confidence in its future development. With the continuous upgrades and optimization of the Ethereum network, as well as the sustained prosperity of applications such as decentralized finance (DeFi) and non-fungible tokens (NFTs), the long-term development prospects of ETH remain promising.