Recent price action for Ethereum has triggered bullish sentiment among analysts, according to a report from on-chain data aggregator Glassnode. The key indicator driving this rise is the recovery of Ethereum’s Realized Price to $1,900 in May. This move signifies that average holders are now profitable once again, fueling a positive outlook for investors. 💰 Glassnode further highlights that after surpassing the True Market Mean ($2,400) in May, ETH’s price surge is backed by inflows of fresh funds into spot Ethereum ETFs, with almost $6.6 billion in investments within the past five weeks. This sustained upward movement has been fueled by factors like the Pectra upgrade designed to improve network efficiency and ease congestion issues on Ethereum.