🚀 The crypto market is buzzing! Ethereum surges past $2000, whale activity + technical upgrades igniting a new bull market?

Ethereum (ETH) price has made a strong comeback, soaring over 13% in just 24 hours, breaking through the key resistance of $2,000, instantly igniting market sentiment. Since March, ETH had been fluctuating below this critical level, and now its robust breakout has triggered expectations of a new upward trend.

Data shows that Ethereum is severely undervalued compared to Bitcoin, with its market cap to realized value ratio (MVRV) hitting its lowest point since 2019. Historical experience indicates that whenever such undervaluation occurs, ETH typically outperforms strongly in the subsequent period.

At the same time, large institutions are ramping up their buying power. A certain capital management firm purchased over $75 million worth of ETH in a single transaction over the past 12 hours and quickly transferred it to a private wallet, indicating confidence in long-term value and a lack of intention for short-term arbitrage.

The technical side is also sending positive signals. Ethereum has completed a significant upgrade known as 'Pectra,' enhancing network performance and scalability, paving the way for the next phase of ecological prosperity. Although the upgrade is important, the surge in bullish sentiment is more driven by whale accumulation and market recovery.

The current price has stabilized around $2,050, and if the daily close breaks above $2,200, it is expected to confirm the start of a new bull market.

Bullish awakening, institutional buying frenzy, technical upgrades... ETH is brewing for a super explosion!