The recent surge of Ethereum (ETH) $ETH has been strong, with prices soaring over 40% in 72 hours, reaching the $2600 mark, marking the best three-day increase since 2019. This increase is mainly attributed to the following factors: First, on May 7, Ethereum successfully implemented the Pectra upgrade, introducing key technical improvements that enhance network usability and flexibility; second, there has been a massive closing of short positions in the futures market, creating a 'short squeeze' upward spiral; third, on-chain data shows that 'whale' addresses holding over 10,000 ETH have significantly increased their holdings since late April. Furthermore, May is often the best-performing month for ETH, with an average return rate of 27.36% for this month in previous years, and there is a 72% chance it will stay above $2500 on May 16.