$ETH Why ETH Is Pumping Today (June 11, WAT Morning)

1. Institutional ETF Inflows

Ethereum-focused ETFs have continued seeing strong capital inflows—approximately $286 M in late May—signaling increased institutional interest and stabilizing price action.$ETH

2. Pectra Upgrade Impact

The recently activated Pectra network upgrade enhanced scalability and gas efficiency, drawing renewed attention. This led to record futures open interest (~$37.6 B) and rising trading volumes .

3. Technical Setup: Cup & Handle / Golden Cross

A bullish cup-and-handle pattern has formed—breakout above $2,750 could propel ETH toward $3,000–$4,100 .

EMAs have crossed bullishly—a classic golden cross—though RSI shows signs of overextension .