Ether surged by 20% following the Pectra hard fork, with analysts indicating that rising long positions could point towards a significant turnaround for the asset, which has seen weak sentiment in 2025. Ether's price was reported at $2,230, marking a 19.6% increase over 24 hours, while its Open Interest spiked by 21%. The Pectra Upgrade introduced new wallet features and scalability improvements. Additionally, market trends indicate that Ether could be poised for more growth, as historical data suggests it often averages a 62.2% return in Q2. Despite this surge, spot Ether ETFs experienced outflows, totaling $16.1 million, highlighting a mixed market sentiment. The overall cryptocurrency market saw a 4.95% increase, driven partially by Bitcoin's gains. Traders remain cautiously optimistic about Ether’s future, considering potential risks of liquidation for long positions if prices fall.

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