David Duong, Head of Research at Coinbase Institutional, offers insight into the recent Ethereum price surge. While noting technical factors contributed to the upward movement, he emphasizes that investor appetite for capital allocation remains limited. “The rise in ETH last week was driven by technical factors like mismatched positions, short closings, and subsequent reopening of positions. This temporary rally is simply ETH catching up with its peers like Bitcoin (BTC) and Solana (SOL),” Duong stated on social media. Duong clarifies that the price fluctuations do not signal a broad market appetite for allocating funds to ETH. “These price movements don’t indicate widespread market willingness to allocate ETH at scale; demand remains limited.”