$ETH 's rally looks healthier than a pure leverage pump because ETF demand is actually behind it. The big question now is whether that demand continues after the short squeeze fades. If ETH holds $2,220–$2,250, I think $2,500 stays in play. Lose that zone, and a cooldown toward $2,100 becomes much more likely. For me, ETF flows are the real signal here. #Macro Insights# #BTC Price Analysis#