A massive $ETH breakout is on the horizon.

Ethereum’s on-chain metrics and market performance are all pointing to a potential bull run in the near-term.

Here’s what I'm seeing:

1. $ETH outperforming $BTC in Q2 so far

2. Protocol Enhancements

The recent Pectra upgrade has improved scalability and lowered ETH’s inflation rate.

3. Spiking Institutional Interest

Exchange balances are at seven-year lows, and ETH ETFs are seeing significant inflows.

This all suggests longer-term accumulation by bigger players.

So the points above look pretty bullish.

But just a word of caution, Polymarket bettors aren’t yet convinced.

Currently, they’re giving a 27% chance that ETH makes a new all-time high in 2025.