$ETH isn’t just climbing : it’s coiling. Supply is vanishing, demand is breaking records, and shorts are sitting on a cliff. The $5K breakout setup is here. 🔸 ~30% of $ETH supply staked , effectively locked away. 🔸 $ETH supply has spent long stretches deflationary since the Merge. 🔸 Exchange reserves at 8/9-year lows 🔸 Pectra upgrade raised validator limits & blob capacity, locking more $ETH operationally 🔸 Vitalik’s EIP-7983 gas cap proposal incoming 🔸 Wall Street just poured billions into $ETH ETFs , record ~$1B in a single day 🔸 $ETH ETFs have been outpacing $BTC ETFs for multiple consecutive days 🔸 ~$183M in shorts liquidated above $4.2K 🔸 ~$1.3B in shorts at risk near $4.7K : forced buying ahead 🔸 ETH/BTC up ~40% in 30 days , alt season vibes. 🔸 L2 data throughput doubled post-Pectra, network activity pushing 1.6M+ tx/day 🔸 Fee burn rising alongside on-chain usage