Ethereum (ETH) has recently shown impressive performance, with its price breaking the $4600 mark, reaching the highest level since 2021. This milestone breakthrough puts ETH just about 5% away from its ATH of $4878, showcasing a strong pump momentum.

The driving force behind this price rise mainly comes from the active participation of institutional investors. The single-day net inflow of Ethereum spot ETFs reached a new high of approximately $100 million. Since the beginning of this year, the cumulative inflow into ETFs has reached $8.2 billion, accounting for about 1.5% of Ethereum's market value, highlighting the strong interest of institutional investors in ETH.

In terms of corporate holdings, BitMine Immersion holds nearly 1.2 million Ethereum, valued at approximately 5.3 billion USD. This large-scale corporate holding behavior undoubtedly instills confidence in the market and is one of the important factors driving the price rise.

From a technical perspective, Ethereum's short-term support is quite solid. Analysts point out that if ETH can break through the 4680 USD level, it may usher in a new round of accelerated rise, aiming for the high of 4800 USD.

It is worth noting that during this round of pump, the bullish strength was strong, leading to over $120 million in short positions being forced to close. This not only reflects a positive shift in market sentiment but also creates favorable conditions for further rise of ETH in the future.

Overall, Ethereum's current performance reflects the vitality and potential of the cryptocurrency market. The continuous inflow of institutional funds, active participation from enterprises, and favorable technical factors have jointly propelled ETH to a new high in nearly four years. However, investors still need to be cautious and closely monitor market trends, as the volatility of the cryptocurrency market remains high.