Ethereum (ETH) has seen a strong surge recently, with prices soaring over 40% within 72 hours, reaching the $2600 mark, marking the best three-day increase since 2019. This rise is mainly attributed to the following factors: first, on May 7, Ethereum successfully implemented the Pectra upgrade, introducing key technological improvements that enhance network usability and flexibility; second, a large-scale short position liquidation in the futures market created a 'short squeeze' upward spiral; third, on-chain data shows that 'whale' addresses holding over 10,000 ETH have been significantly increasing their holdings since late April. Additionally, May is often the best-performing month for ETH, with an average return of 27.36% over the years, and there is a 72% chance that it will remain above $2500 on May 16.