The SEC's delay in deciding on Ethereum ETFs, including Grayscale's staking proposal, introduces short-term uncertainty, likely increasing ETH price volatility. Over the next 10 days, ETH may fluctuate between $3,200 and $3,800, driven by regulatory concerns and market sentiment. Recent posts on X highlight bearish signals in ETH options, with low implied volatility (IV) for June-Sept 2025 expiries and a put-skewed IV curve, reflecting cautious trader sentiment. The Cork Protocol hack further pressures prices. Miner fee revenue, tied to network activity, may correlate with price swings; higher fees often signal bullish on-chain activity, but current regulatory overhang could suppress this. If ETF clarity emerges, ETH could test $3,800; otherwise, it may dip toward $3,200. Options IV skew and miner fees will likely align with price trends, amplifying volatility.