Markus Thielen, head of research at Odaily 10x Research, said in a recent market report: "While the possibility of a new catalyst cannot be ruled out, we would not be surprised if ETH struggles to achieve a meaningful rebound in 2025." While we understand the volatility of ETH, we believe it is still a poor medium-term investment and expect ETH to underperform BTC again in 2025. Therefore, our position on ETH is still clear: 'avoid'. ”