I just noticed that ETH has recently surpassed $2,000 again after being stuck below that level for quite some time. A few weeks ago, it was fluctuating around $1,920 and then bounced from $1,750, avoiding another support breakdown. Now it’s trading around $2,047, up 7% in 24 hours, but the current price watch is $2,030 with -4.92% for the day. I see this as important because it changes how the market perceives the situation.

The interesting part here is that institutional money is flowing back in. The Crypto ETF Ethereum received a net inflow of $9.23 million, and Grayscale bought an additional $11.1 million worth of ETH. This isn’t FOMO like before, but calculated trades when the price was still near support levels. I call this marginal accumulation — it’s just trades on the “edge” of the support zone, not large-scale buying. This often leads to technical rebounds but can also be easily reversed if liquidity weakens.

One thing to note: $893 million worth of ETH options are about to expire with max pain at $2,200. When max pain is higher than the spot price like this, the market can be pulled toward that level due to hedging, but it’s not genuine demand. Additionally, $7.54 billion worth of Bitcoin options are expiring with max pain at $75,000, so volatility could spill over into major coins.

From a technical perspective, MACD is starting to give a positive signal, but I’m still waiting for confirmation. Previously, ETH also clearly rebounded from $1,750–$1,800 but was blocked below $2,000. If Crypto ETF Ethereum inflows continue and the price stays above $2,000, the short-term bullish structure will be more credible. Otherwise, this might just be a relief rally.