Ethereum ETFs See Fifth Day of Outflows, ETH Near $3,300
Ethereum ETF outflows continued for a fifth straight day as investors withdrew a total of $219.37 million, underscoring weak market sentiment. BlackRock’s ETHA led redemptions with $111.08 million, followed by Grayscale’s ETH at $68.64 million, Fidelity’s FETH at $19.86 million, and Grayscale’s ETHE at $19.78 million. Spot Bitcoin ETFs also saw net outflows for the fifth consecutive day, totaling $577.74 million. The sell-off coincided with Ethereum trading near $3,300 after dipping to a multi-week low of $3,160. Trading volume surged 33.75% to $74 billion. Technical indicators show bearish momentum: RSI at 30.03 near oversold and ADX at 24.36 indicating a downward trend. Key support lies at $3,200–$3,250, with resistance at $3,400 and $3,520. Ethereum ETF flows reflect ongoing investor caution amid market volatility.
Bearish
The sustained outflows from Ethereum ETFs over five consecutive days signal persistent investor pessimism towards ETH. Large redemptions, particularly from major funds like BlackRock’s ETHA and Grayscale’s ETH, combined with a drop in ETH price to near $3,300 and bearish technical indicators (RSI near oversold and rising ADX), suggest continued downward pressure. While key support levels at $3,200–$3,250 may provide near-term stability, failure to hold these levels could trigger further declines. Overall, the ETF outflow trend and technical momentum point to a short-term bearish outlook for ETH.