IMHO, one of the reasons for this massive elite bump:

Looking at TATL loads I am seeing huge numbers of empty seats. Especially a sea of blue pointing to 80% empty E+ sections and BF less that half full, no u/g WL. Occurring on trunk routes midweek. Weekends are still better. While I am fully aware, this is anectodal, I just do not recall such empty flights in cabins primarily booked by elite flyers.
(This subject might even deserves its own tread).

Not sure, if AA & DL show similar poor TATL loads, which would point to other factors on EU travel.