Inflation Surge, Low Fed Cut Odds Threaten ETH $2,280 Amid 72,000% Unstaking Wave

Ethereum holds near $2,280, up 30% from February lows near $1,800, but grapples with a 72,000% surge in unstaking—including Ethereum Foundation's $48.9M move—negative funding at -0.0018% echoing FTX levels, and put-heavy options volume despite $6.38B OI with 62% calls. The rally followed January's derivatives reset (perpetuals volume -31% MoM, OI +63%), Tom Lee's bullish call, and positive Scarcity Index (0.67). Latest pressures mount from rising global inflation (IMF 4.4% headline), 5% Treasury yields, Middle East tensions, and slim Fed cut odds (2.4% for June).