‼️Web3 Development Manager Kas Abbe concluded that the Ethereum Pectra update was indeed successful. A few hours after it, the annual inflation of $ETH decreased from 0.7% to -0.5% as the issuance became deflationary again.

Additionally, the daily burning of ETH has doubled, which he believes is "the reason for the ETH pump":

We all know that ETH is lagging behind this entire cycle due to a lack of demand and increasing supply. If ETH burning increases, the supply issue will be resolved, and ultimately this will create demand. It seems that $3K ETH is expected in the second quarter.