Ethereum ETFs see $184M outflows amid macro risk; ETH holds near $2.3K

Ethereum ETFs extended a four-day losing streak with about $184 million net outflows, as macro and geopolitical risk pressured risk appetite. Ethereum ETF flows remain the key near-term driver: cumulative inflows reportedly slipped to around $11.9B (from the mid-January peak near $12.9B), with the biggest single-day outflow about $87.7M on April 29. Despite the Ethereum ETFs selling pressure, ETH spot rose roughly 2.2% during the same period to around $2,313, showing a divergence versus ETF flows rather than immediate spot weakness. Bitcoin ETFs were also weak, posting about $476 million net outflows over four days, while traditional markets hit record highs. Macro framing points to the Fed holding rates at 3.5%–3.75% and energy-driven inflation expectations linked to Middle East/U.S.-Iran tensions. Traders also have ETH technical levels in focus: price hovering near $2,296–$2,313, neutral RSI (~52), support around $2,289 and $2,244, and resistance near $2,310 and $2,397. Action for traders: watch whether continued Ethereum ETFs outflows fade the ETH/spot divergence, or if ETF selling stays “non-translating” into spot until key resistance ($2,310) is reclaimed.