From Cointelegraph

May 09, 2025 9:40 PM:

ETH price surged 22% on May 8, but demand for spot ETH ETFs and derivatives remains low. President Trump’s altcoin endorsement aligns with ETH’s positive outlook. Ether posted a 29% gain, ending a 10-week bear market. Traders are neutral on ETH derivatives, waiting to see if $2,000 level will be tested again.

ETH futures premium still below 5%, signaling limited demand for bullish positions. Despite underperformance compared to altcoins, short covering may occur. Ethereum’s network upgrades strengthen its decentralization and TVL. Ether ETFs experienced net outflows despite price surge, indicating subdued market interest.

Ethereum network fees dropped 85% from January to April, affecting ETH demand and staking yields. ETH options market shows neutral sentiment, discouraging Ether bulls. Trump’s reversal on altcoin endorsements could spark renewed interest in Ether. Ether may rally to $2,700 level amid shifting investor sentiment.

Read more at CoinTelegraph: Ethereum price greenlit for further upside after surprise 29% ETH rally