According to the search results provided, the White House Cryptocurrency Summit held on March 7, 2025 (referred to as the "White House Cryptocurrency Conference" in the user's question) may have a multidimensional impact on the trend of Ethereum (ETH). The following comprehensive analysis is made from the perspectives of policy expectations, market sentiment, industry dynamics, and technical aspects:

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### 1. **Clarity and Legitimacy Enhancement of Regulatory Framework**
- **Key Theme**: One of the key focuses of the summit is to explore the regulatory framework for Crypto Assets, including token classification (securities or commodities), stablecoin regulation, and market structure reform. If the conference reaches supportive policies (such as clearly defining ETH as a commodity or recognizing its technological neutrality), it may eliminate market doubts about the compliance of ETH and attract more institutional investors.
- **Potential Risks**: If regulatory details are vague or impose strict restrictions on on-chain activities such as DeFi and staking, it may suppress the innovation vitality of the Ethereum ecosystem, leading to short-term selling pressure. For example, if the SEC expands the scope of 'securities' recognition, it may be bearish for ETH.

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### 2. **Strategic Reserve Plan and Government Holdings Dynamics**
- **BTC strategic reserve spill-over effect**: The Trump administration announced the establishment of a Bitcoin strategic reserve (mainly relying on confiscated assets). Although ETH was not directly mentioned, the White House document mentioned that other digital assets (such as ETH, SOL, etc.) may be included in the 'US Digital Asset Reserve'. If the reserve status of ETH is clarified in the future, it may drive its long-term value expectation as a 'strategic asset'.
- **Market Reaction Contradiction**: After the news was announced, the price of BTC plummeted sharply in the short term ("good news is bad news"), and ETH may also fluctuate due to the mismatch between policy expectations and actual market purchasing power. However, industry insiders generally believe that this move may trigger other countries to follow suit, forming a "reserve race", which is a long-term positive for the overall demand for encryption assets.

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### 3. **Market Sentiment and Capital Flows**
- **Short-term Sentiment Repair**: The current Cryptocurrency market sentiment is low, with ETH having retraced nearly 50% from its January peak. Contract positions are at high levels, and prices are highly sensitive to policies. If the summit releases positive signals (such as supporting innovation or institutional entry), it may trigger short covering and technical rebound.
- **Capital Diversion Risk**: Recently, the altcoins have been continuously falling, with funds flowing towards Bitcoin (such as institutions like MicroStrategy increasing their holdings in BTC). If the summit does not clearly support Ethereum (ETH), funds may further withdraw from ETH and move towards BTC or stablecoins.

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### 4. **Technical Analysis and On-Chain Data Support**
- **Key Price Levels**: The current short-term resistance level for ETH is at $3113 (200-day moving average), a breakthrough may test the range of $3400-$3500; if it fails to stabilize, it may fall back to the support level of $2500.
- **On-chain fundamentals**: The recent outflow of ETH staking volume (net outflow for 84 days) and the return of the inflation rate to neutrality reflect the lack of confidence among some long-term holders. If the summit fails to boost ecosystem activity (such as DApp usage or Layer2 development), the technical rebound may be limited.

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### 5. **Long-term Policies and Ecological Impact**
- **Balance between innovation and compliance**: If the summit promotes "progressive regulation" (such as setting up a sandbox mechanism for DeFi), it may accelerate the adoption of ETH in compliant financial products (such as tokenized treasury bonds) and attract traditional capital inflows.
- **Geo-financial competition**: If the United States consolidates its "encryption hegemony" through policies, it may force other economies to accelerate the deployment of their own blockchain infrastructure, indirectly expanding the demand for ETH as a smart contract platform.

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### Summary: Cautious Optimism Amid Bulls and Bears
The impact of the White House summit on ETH depends on the specific direction of policy implementation:
- **Bullish Scenario**: Clearer regulations, ETH included in reserve plans, accelerated entry of institutional funds, may push ETH through key resistance levels, with a medium-term target of $4000.
- **Bearish Scenario**: Policy details are unclear, DeFi regulation is tightening, or market sentiment remains low, ETH may test the $2000 support area, further reducing its market share compared to BTC.

Investors are advised to pay attention to specific policy statements after the summit (such as stablecoin legislation, token classification standards) and on-chain data of ETH (staking amount, ETF fund inflow) to determine the direction of short-term fluctuations. In the long term, the technological upgrade of the Ethereum network (such as fee optimization after the Dencun upgrade) and its adaptability to the regulatory environment remain core variables.