$ETH Ethereum Update – 16 May 2025

1. ETH surged above $2,600 today.

2. Price gain driven by short covering.

3. Institutions like SRx Health are buying ETH.

4. Bullish signs on technical charts.

5. 30-day MA nearing 200-day crossover.

6. Signals potential for further upside.

7. Despite gains, ETH ETFs saw $23.9M outflow.

8. Fidelity led the ETF withdrawals.

9. Market sentiment remains cautiously bullish.

10. Ethereum continues to draw major attention.