BTC reaches $110,000 again. Can ETH usher in a rebound opportunity?

In the past 24 hours, BTC surged 3.7%, reclaiming the $110,000 mark and coming close to its historical high from May. Simultaneously, ETH also rose 3.8%, rebounding above $2,620, demonstrating its correlation with BTC. However, the key question is: As BTC approaches its historical new high, is ETH's rise merely a passive follow, or is it brewing a more independent ETH market trend? Analyst: ETH Will Reach $10,000 Within a Year Renowned crypto market analyst DCinvestor boldly predicted on social media that ETH will reach $10,000 or even higher within the next year. He believes the true driving force will no longer be retail investors' return, as they may have been "brainwashed" and developed biases about ETH's real value. DCinvestor said: "Retail investors won't return to ETH; they've been completely brainwashed by 'psychological warfare' into thinking ETH has no value. But they'll be forced to watch ETH rise to $10,000 as enterprises, governments, and Wall Street inject trillions of dollars into this chain." DCinvestor compared this phenomenon to BTC's 2017 cycle, noting that ETH's development is two cycles behind BTC but is progressing methodically. He emphasized that new market buyers won't care about market doubts or "concerns" because they're unaware of those "old-school" critics' existence. ETH ETF Continuous Inflow: Clear Signal of Institutional Interest Data doesn't lie. CoinShares' latest report shows that since May 16, Ethereum-related investment products have led digital asset inflows for the second consecutive week, attracting $296.4 million and bringing the seven-week total to $1.5 billion. CoinShares Research Head James Butterfill wrote: "This is the strongest capital inflow since the US election," adding that this figure currently represents 10.5% of Ethereum's total managed assets. Redstone co-founder and COO Marcin Kazmierczak noted that ETH's upward momentum seems driven by multiple factors: institutional ETF fund flows showing renewed interest in ETH products and growing market expectations for Ethereum's roadmap upgrades. Meanwhile, the ETH/BTC market cap ratio rising above 0.14 is seen as a potential signal of returning to "risk-appetite" Altcoins, which might be an early indicator of a broader Altcoin season. Pectra Upgrade Provides Boost Despite ETH's recent price trend being relatively "bland," its fundamentals remain strong. Market expectations for Ethereum's roadmap upgrades are high, with the Pectra upgrade completed last month (May 7) being particularly significant. CoinShares senior Ethereum researcher Luke Nolan stated that while the Pectra upgrade didn't bring a single major change, it includes multiple Ethereum protocol improvements that lay the groundwork for future scalability, which has long been Ethereum's primary bottleneck. One key feature of the Pectra upgrade is expanding the Ethereum blockchain's capacity to process "blobs" (temporary data storage units), helping preserve more data at the consensus layer. Nolan believes that sometimes a small narrative is enough to drive positive sentiment. Technical Trend Looks Promising From the Tradingview technical chart, Ethereum's trend also shows positive signals. At the time of writing, the price has strongly rebounded from May's low point to around $2,665 and firmly stands above the weekly pivot point (PP, around $2,400-$2,500). The immediate support is at $2,483-$2,485, with the weekly pivot point and deeper Fibonacci support providing a good foundation. Notably, the chart reveals a potential "bullish flag" formation, and the golden cross between the 50-day and 200-day moving averages are strong bullish signals. ETH's continued consolidation above $2,520 indicates short-term buyer dominance. Key resistance is targeted at R1 (around $2,900-$3,000) and historical highs, so bulls are poised to challenge higher resistance levels soon. However, investors must closely monitor market volume and key position breakouts to confirm the uptrend's sustainability.