🚨#Ethereum Rally Driven by #Short Covering, Not Bullish Momentum
🔹CF Benchmarks CEO Sui Chung says ETH’s 90% price surge since April is likely due to short covering, not fresh long positions.
🔹Futures premiums remain low (6–10%), indicating lack of leveraged bullish sentiment.
🔹Spot Ethereum ETFs show weak demand, with minimal inflows over the past month.
🔹Suggests the rally reflects risk repositioning, not strong institutional buying.