Ethereum’s Price Spike? It's Not What You Think.
According to CF Benchmarks CEO Sui Chung, Ethereum’s recent rally isn’t being fueled by fresh bullish bets — it’s mostly short covering.
Speaking to Odaily, Chung pointed out:
Low CME ETH futures premiums
No major capital inflows into U.S.-listed spot Ethereum ETFs.
Translation?
Traders are closing out bearish positions — not institutions diving in.
So while ETH might be climbing, it may not be on firm long-term footing… yet.