This morning, the crypto world was a bit explosive.

Bitcoin was unruly early in the morning, rapidly surging past $96,500, hitting a nearly two-month high. Ethereum also followed the excitement, reaching a peak of $3,380. But the good times didn't last long; both quickly retreated from their highs, and Bitcoin is now fluctuating around $95,000.

Is this a genuine breakout or just another false prosperity? It's hard to say for now.

From a candlestick perspective, BTC experienced a sudden volume surge after a long period of sideways trading, but ultimately failed to hold the high. ETH's performance was similar, following BTC's upward momentum but facing selling pressure as well. Overall, market sentiment has ignited, but confirming the trend still requires more time.

An interesting event happened at this moment.

On-chain, a major move occurred—one of Ethereum's main reserve holders staked another 92,160 ETH, worth about $300 million. Calculations show that this institution's total staked amount has reached 1,436,000 ETH, accounting for 34% of its total holdings. Based on the current annualized staking yield of around 2.8%, this portion of assets could generate hundreds of millions of dollars in cash flow annually.

It's like turning all idle Ethereum into income-generating assets.

But there are also pressures beneath the surface. The average cost basis for this institution's holdings is around $3,862, while the current price is significantly below that, resulting in a considerable short-term unrealized loss. Aggressive staking strategies bring returns but also entail greater volatility risks.