Analysis: The rise in ETH may be due to optimistic market expectations for the Fusaka upgrade.

Odaily Planet Daily reports that after ETH returned to the $3,000 mark, market analysts believe this is due to optimistic expectations for the upcoming Fusaka upgrade. Supported by widespread gains in major altcoins such as SOL and BNB, the total cryptocurrency market capitalization climbed to approximately $3.2 trillion. Timothy Misir, Head of Research at BRN, stated that part of the price increase was due to the forced exit of a large number of BTC short sellers above $93,000, leading to a surge in forced buying. Fund flows in spot ETFs also provided an additional positive factor; the US Bitcoin spot ETF recorded a net inflow of approximately $58.5 million on the last trading day, marking the fifth consecutive trading day of positive inflows. (The Block)