On August 1, according to 4E's observation, BTC broke through $124,000 in a short time and hit a maximum of $124,474, setting a new historical record. While market sentiment is rising, Google trend data shows that global searches for the “altcoin” keyword have reached a new high in nearly five years, indicating that retail and institutional attention to the altcoin market is heating up at the same time. In terms of US politics and monetary policy, the Trump administration is considering 11 candidates for Chairman of the Federal Reserve. Three new candidates include Jefferies Chief Market Strategist David Zervos, former Federal Reserve Governor Larry Lindsey, and BlackRock's Global Fixed Income CIO Rick Rieder. Analysts pointed out that if signs of personnel changes increase, the market may adjust interest rate expectations and risk pricing ahead of schedule. In its latest report, Standard Chartered Bank raised its target price target for ETH by the end of 2025 from $4,000 to $7,500, and raised its target by the end of 2028 from $7,500 to $25,000, for reasons including the expansion of the Ethereum ecosystem, increased institutional adoption, and the acceleration of on-chain financialization. 4E reminds investors that historical highs and institutional bullishness do not mean that the trend is risk-free. Investors are advised to do a good job of allocating positions and controlling the rhythm of the cycle while paying attention to the macro-narrative and on-chain fundamentals of BTC and ETH.