ETH’s six-week high and subsequent 2.4% slide both align with a liquidity-driven short-term thesis; no new regulatory signal has emerged to…

ETH’s six-week high and subsequent 2.4% slide both align with a liquidity-driven short-term thesis; no new regulatory signal has emerged to shift the structural ceiling (ETH as non-security). Whale flows and ETF inflows support momentum toward $2k, but regulatory clarity remains the binding constraint. Current evidence reinforces the view; no revision warranted.