Ethereum breaks through $3700, reaching a new high of $3786, with a daily increase of 4%. On-chain large transactions increased by 35%, and the activity of whales has significantly risen.

Driving Factors

• Institutional funds pouring in - ETH ETF daily inflows hit a new high of $700 million, large institutions continue to accumulate, with large buy orders accounting for 62%

• Technical support - forming a 'cup and handle breakout' pattern, stabilizing above $3710 will open up upward space to $3800-$4000

• Improved regulatory environment - The passage of the GENIUS Act promotes warmer expectations for staking yield regulation

Trading Strategy

• Focus on the 3600-3650 dollar support range layout

• If it falls below $3550, caution is needed regarding pullback risks

• Consider bullish options strategies above $3750, targeting $4000