US-based spot Ethereum exchange-traded funds (ETFs) experienced five consecutive days of net outflows totaling $795.8 million, culminating in a daily outflow of $248.4 million on Friday, according to Farside data. This marks the first such outflow streak since the week ending September 5, when ETH was trading around $4,300.
Ethereum's price fell 10.25% over the past seven days to approximately $4,013, with a 12.24% decline over the last 30 days, as per CoinMarketCap. The selling pressure is exacerbated by weakening retail participation, with net taker volume on Binance remaining negative, indicating persistent sell-side activity.
Crypto analyst Bitbull described the outflow streak as "a sign of capitulation as the panic selling has been so high," suggesting potential market exhaustion. Technical analysis by Dan Gambardello points to a triangle pattern breakdown on Ethereum's daily chart, targeting the mid-$3,000s where the 20-week moving average converges with support. He emphasized that a break above $4,500 is needed for a bullish reversal, but current conditions—including ETF dynamics and regulatory uncertainty—may lead to increased volatility.
Critical support levels are in focus: analyst Ted identified $4,060 as a key level, with a reclaim signaling upside potential, while failure could drive prices toward $3,600. ETH recently tested $3,800 support, showing buyer interest. Conversely, Michaël van de Poppe views the pullback as a "higher timeframe support test" near the 20-week moving average, presenting an accumulation opportunity for long-term investors.
Industry anticipation builds around SEC approval for staking features in Ethereum ETFs, with Grayscale preparing to stake part of its holdings, potentially boosting confidence. Meanwhile, Bitcoin ETFs saw $897.6 million in outflows over the same period, highlighting broader market pressures.