$ETH Ethereum’s current price action is being driven by a mix of macro trends, technical dynamics, and ecosystem developments. Here's a quick breakdown:

1. Macro Factors:

Interest Rate Expectations: Lower inflation or dovish Fed signals tend to boost ETH as risk appetite increases.

Bitcoin ETF Halo Effect: Positive sentiment from BTC often spills over into Ethereum and altcoins.

ETH ETF Approval Speculation: Rumors or news around a potential spot ETH ETF can cause spikes in demand.

2. On-Chain & Ecosystem Catalysts:

Restaking Boom (EigenLayer): Driving demand for ETH as users seek yield on top of staking.

L2 Growth: Arbitrum, Optimism, and Base are scaling Ethereum usage — indirectly boosting ETH utility and fees.

Deflationary Tokenomics: Thanks to EIP-1559, ETH’s supply can decrease during high on-chain activity — supporting price.

3. Technical Setup:

Consolidation Above Key Support: If ETH holds above $3K, it signals strong buyer conviction.

ETH/BTC Ratio: Watching this pair helps gauge if ETH is outperforming or lagging broader crypto.

Bonus Insight:

Whale Accumulation & Staking: Large holders are staking ETH and withdrawing it to cold storage — a sign of long-term confidence.

**TL