- Crypto ETFs saw nearly $560 million in outflows, hitting Ethereum and Bitcoin hardest.
- BlackRock’s ETHA led selling, followed by Grayscale and Fidelity funds.
- Ethereum failed to hold above $3,300 and continues trading sideways.
Ethereum prices remained under pressure as a large sell-off in crypto exchange-traded funds weighed on the broader market, keeping both Ethereum and Bitcoin stuck in a narrow range below recent highs.
Data showed that crypto ETFs recorded about $560 million in outflows in a single day, with both Bitcoin and Ethereum products seeing heavy selling from large asset managers.
ETF Outflows Hit Ethereum and Bitcoin
Spot Ether ETFs recorded withdrawals of roughly $159.17 million, while Bitcoin ETFs sold about $398.95 million worth of holdings. Together, the outflows marked one of the largest single-day reductions in ETF exposure in recent weeks.
Source: SoSoValueThe selling came as prices struggled to move above resistance levels, with Ethereum failing to hold gains above the $3,300 area and Bitcoin trading below the $90,000–$95,000 range.
BlackRock Leads the Selling
Funds managed by BlackRock recorded the largest outflows during the session. Its iShares Ethereum Trust (ETHA) saw about $107.65 million leave the fund. Grayscale Ethereum Trust(ETHE) followed with $31.72 million in outflows.
Grayscale Ethereum Mini Trust (ETH) also posted outflows of about $12.90 million, while Fidelity’s FETH saw $4.63 million in withdrawals.
Ethereum Trades Sideways After Rejection
Ethereum has moved sideways on the daily chart after being rejected at higher levels earlier this week. Prices have not broken decisively above resistance, and recent declines have stayed within a broader range.
The price was rejected around the $3,300 area earlier this week and has since moved lower, showing that buyers are struggling to push the market higher. Any move higher continues to face pressure in the $3,150 to $3,250 zone. Ethereum has been rejected from this area multiple times, making it a strong ceiling for now.
Source: XOn the downside, Ethereum is holding above recent lows, but overall pressure remains tilted lower. If the price weakens further, analysts see room for Ethereum to drift toward the $2,600 to $2,250 range, where buying interest could return.
Related: Vitalik Buterin Details Ethereum’s Bandwidth-First Scaling Strategy
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Source: https://coinedition.com/ethereum-stays-under-pressure-as-560-million-etf-outflows-weigh-on-market/
