Tom Lee's core lies in the ETH/BTC ratio and the background of Wall Street's surge towards ETH The ETH/BTC ratio has rebounded from a low of 0.03144 and is currently trending upwards, with the potential to break through 0.0500 (last year's level). At present, ETH is stronger than BTC due to its own story (such as institutional support). The SEC's "Project Crypto" project promotes financial blockchain (tokenize stocks/bonds), with ETH benefiting as the largest smart contract chain. Since its inception, it has never been interrupted, reflecting the stability of the world's computers. The outbreak of stablecoin compliance is like AI's ChatGPT, awakening Wall Street's interest. Advantages of ETH: Strong compliance, zero downtime, and large network effects (JPMorgan and others have already been listed on the chain). DeFi yields will be reshaped, with ETH becoming the core of 'risk-free rates'. Price prediction: Short term ratio returns to 0.0500, ETH implied price~5700 USD (BTC 114k). Fair value of $10k-20k within December; If Wall Street pledges in the long run, the potential is 60k+. This part is a bit like the market dream rate blowing an invincible big bubble in the universe.