How are ETH bulls positioned after Ether’s 17% weekly gain?

Ether has seen a notable 17% gain over the past week, raising questions about its potential to surpass the $5,000 mark. However, the outlook remains cautious as institutional accumulation is crucial for further growth, while increasing competition and subdued derivatives metrics are tempering investor enthusiasm. This situation highlights the delicate balance in the cryptocurrency market, where gains can be overshadowed by external factors.