$ETH has pushed back above $2,000, climbing roughly 8% in the past 24 hours. But underneath the headline move, volatility is surging. 30-day realized volatility on Binance has jumped to 0.97 — its highest level since March 2025. That marks a clear shift from a period of compression to reactive expansion.
Historically, spikes in volatility tend to precede significant directional moves.
On-chain backdrop:
30D MVRV sits at -5.5% → suggesting mild undervaluation.
Analysts point to a 5-year demand zone holding firm.
US spot ETH ETFs recorded $157M in inflows — the strongest daily intake in a month.
Fidelity investments FETH led with $62M, followed by Greyscale Investments and Blackrock.
This flow profile looks more like strategic repositioning than random volatility.
If volatility continues expanding alongside price, a structural breakout becomes increasingly likely.
If momentum fades, the move risks turning into another range-bound fakeout.
$2K has been reclaimed.
Now the market decides: true turning point — or just another test?