Let me share my personal thoughts real quick. Crypto assets have a strong cyclical nature, but not all of them can break their previous all-time highs during a cycle shift, especially those coins with 'unlimited supply.' This has already been proven in this cycle. Major assets like ETH, SOL, and DOGE have struggled to break their previous highs. So, for ETH to hit $7,000 in the next cycle? I’m skeptical and have zero confidence in that. If consumption can’t keep up with issuance, even if the market cap grows, the value distributed to each token decreases. We’ve seen that the assets breaking their previous highs this cycle—like BTC, BNB, ZEC, and even XRP—just so happen to be ones with capped supply. Coincidence? Of course, having a capped supply doesn’t guarantee new all-time highs. It’s closely tied to the asset’s characteristics, token distribution, and supply-demand dynamics. For ETH, the question is: where’s the new demand coming from? If it’s just treasury companies buying, that’s far from enough—or they simply can’t buy it all. In the end, it still depends on market forces, like ecosystem development and large-scale adoption, to continuously drive demand forward.