A massive ETH breakout is on the horizon. Ethereum’s on-chain metrics and market performance are all pointing to a potential bull run in the near-term. Here’s what I'm seeing: 1. ETH outperforming BTC in Q2 so far 2. Protocol Enhancements The recent Pectra upgrade has improved scalability and lowered ETH’s inflation rate. 3. Spiking Institutional Interest Exchange balances are at seven-year lows, and ETH ETFs are seeing significant inflows. This all suggests longer-term accumulation by bigger players. So the points above look pretty bullish. But just a word of caution, Polymarket bettors aren’t yet convinced. Currently, they’re giving a 27% chance that ETH makes a new all-time high in 2025.