The ETH early morning surge stretches again, hitting 2520 once more. This is the second rebound after breaking below 2500, mainly due to news-driven trading, speculating that the SEC's final approval deadline for Grayscale's digital large-cap ETF is approaching this week. #Grayscale Fund Currently, Grayscale is no longer the same as it was in 2020 or 2021; the market is now dominated by international giants like BlackRock, MicroStrategy, and Fidelity. Moreover, Grayscale has been continuously reducing its holdings of BTC and ETH, while the speculation around XRP, SOL, ADA, and DOT shows that the probability of direct approval is low based on current data. They have made several empty promises since the beginning of the year, which have significantly misled investors, so I remain cautious and observant here. #Ethereum Foundation Additionally, the Ethereum Foundation has been transferring 1,000 ETH daily to another multi-signature wallet recently. In a month, a total of 11,000 ETH has been transferred, but there have been no further actions regarding the transferred ETH. This data needs to be monitored closely since the foundation often acts unpredictably. The amount of ETH being burned currently cannot offset the amount of new issuance, and with the monthly close approaching, we need the price to break new highs to see if ETH can reach 3000. #Non-Farm Employment Data The non-farm data will be released on July 3rd, and everyone should keep an eye on it. After all, there is usually significant volatility for 1-2 days before the non-farm data is released. Those who have positions should take profits, and those who want to be greedy should set a stop-loss at their cost price. Today is mainly for observation; it’s fine to initially set up a short position. Make sure to average down your holdings in BTC, and set a stop-loss for your ETH short position. The market has been fluctuating for another week, and there’s a lot of on-chain data piling up. The whales are about to start harvesting again, so everyone should prioritize risk management.