ETH Price Near Breakdown at $3,800 Amid Surging ETF Outflows
The Ethereum (ETH) price is under significant selling pressure, struggling to maintain the $4,000 level. The price recently dropped by 3%, testing critical support at $3,800.
- Institutional demand for Ethereum is decreasing, with outflows from spot Ethereum ETFs increasing.
- Analysts warn that breaking below the $3,800 support could lead to further declines.
- Crypto analysts highlight the importance of a daily close above $4,000 to avoid more losses.
- Treasury companies are reportedly selling their holdings, indicating market weakness.
- Ethereum options worth $2.5 billion are expiring, potentially influencing future market volatility.
- Shorting Ethereum might be seen as a protective measure due to declining institutional interest.
Spot Ethereum ETF Outflows Surge
- Recent data shows net outflows from Ether ETFs reached $184 million over two sessions.
- BlackRock's iShares Ethereum Trust experienced the largest outflow, with 31,754 ETH moving out, totaling $120 million.
- Despite these outflows, the fund recorded a trading volume of $1.4 billion, showing active investor participation.