Ethereum Price Pulls Back After ETF Outflows and SharpLink Loss
Ethereum price stalled just 1.94% below its all-time high at $4,878 and is now trading near $4,450. The pullback coincided with a net outflow of $59.3 million from spot Ether ETFs, ending an eight-day $3.7 billion inflow streak. Since July 2024, U.S. spot ETH ETFs have amassed $12.68 billion, making ETF flows a key driver of short-term performance. A $103.4 million Q2 loss at SharpLink, driven by liquid-staked ETH impairments, further weighed on sentiment despite its 728,804 ETH treasury and 3.4% staking yield. Public companies now hold over $10 billion in ETH treasuries, underscoring growing institutional demand. On charts, Ethereum price may test support at $4,115 and the 20-day MA before eyeing a second ATH challenge, with a downside target near $3,750 if support fails.
Bearish
The rejection near the $4,878 ATH and the first ETF outflow in nine sessions signal waning short-term momentum. Similar ETF fund reversals have historically triggered pullbacks, as seen in previous spot ETH ETF sell-offs. SharpLinkâs headline loss intensified negative sentiment despite underlying staking yield support. In the short term, traders may remain cautious, testing support at $4,115 and $3,750. Longer term, renewed ETF inflows and corporate treasury accumulation could restore bullish momentum, but only if institutional demand resumes.