Key takeaways: ETH price rallied by 22% on May 8, but demand for spot ETH ETFs and derivatives remains muted. President Trump’s reversal on certain altcoins aligns with ETH’s renewed outlook. Ether (ETH) posted an impressive 29% gain between May 8 and May 9, likely marking the end of a 10-week bear market that bottomed out at $1,385 on April 9. This sharp move triggered the liquidation of over $400 million in short (sell) ETH futures positions, suggesting that whales and market makers were caught off guard. Despite the surge, traders have maintained a neutral stance in ETH derivatives. Whether