Spot ETH ETF inflows recently reached $216 million, but Ether's price rising to $5,000 is contingent on broader economic conditions. With ETH trading between $4,200 and $4,500, traders remain uncertain about bullish momentum despite the S&P 500's all-time high. Ether futures show a slight 5% premium, indicating low leveraged demand. Notably, Ethereum saw a streak of 10 days with net outflows from ETFs, undermining bullish sentiment. Institutional investors continue to buy, reflecting long-term confidence, with one major accumulation totaling 202,500 ETH. However, Ethereum's on-chain activity is declining, evidenced by a slight drop in transaction fees and stagnant active addresses. Current market conditions suggest that if macroeconomic issues persist, the path to a $5,000 ETH remains unclear. Achieving significant price targets will require improvements in economic sentiment, particularly regarding interest rates and overall market stability.

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