As if the crypto world didn’t have enough drama, Ethereum continues its dance with the market gods. Despite the continuous outflows from Ethereum ETFs, the price of ETH stays steadier than a vodka-soaked sailor on calm seas. But, alas, the tides of sentiment are shifting-again.
- Ethereum ETFs have suffered a sixth consecutive day of outflows, totaling over $938 million. BlackRock’s ETHA seems to be the one holding the most weight, leading the charge on withdrawals.
- ETH is hovering around $3,388, down 14% for the week. Coincidence? Probably not. The price seems to follow the pattern of ETF outflows and weak investor sentiment. How very predictable.
- Whales, on the other hand, are raking in over $1.3 billion worth of ETH, which could mean a recovery if ETF sentiment chills and buying momentum picks up above that oh-so-crucial $3,100 support level. Fingers crossed.
Ethereum ETFs have recorded a six-day streak of net outflows. On November 5, they lost $119 million. And who’s leading the charge? BlackRock’s ETHA, which saw a sharp drop of $147 million, while other players barely made a ripple. Can’t win them all, huh?
Meanwhile, Grayscale’s NYSE ETH fund took in a respectable $24 million, with Fidelity and 21Shares also showing some minor inflows of $3.45 million and $500K, respectively. The rest of the ETF issuers? Crickets. Seriously, do they even exist?
This recent dip brings the total net outflows to a staggering $938 million over the past six sessions. As expected, Ethereum’s price dipped right in sync, now sitting at $3,388-down 14% for the week. Predictable, as always. No surprises here. Just another day in crypto-land.
With the price and fund flows so closely linked, Ethereum’s short-term outlook will likely depend on whether ETF sentiment can find some peace and calm. But who’s betting on that happening anytime soon?
Whales Are Buying Big, But Will They Save ETH?
Despite the stormy waters, Ethereum’s price recovery has piqued the interest of some very large holders. According to the chain sleuths over at Lookonchain, whales have gobbled up 394,682 ETH worth a cool $1.37 billion over just three days. Talk about deep pockets.
One particularly flashy wallet borrowed a hefty 66,000 ETH-worth about $896 million-and bought like there’s no tomorrow. Bitmine is in the game, and there’s also a collection of sibling wallets and new accounts getting in on the action. Talk about a family reunion.
Support now rests just above $3,100, and the Ethereum market outlook has split into two distinct possibilities. On the one hand, if selling pressure mounts and ETF outflows continue, we could see ETH slump back to its recent lows near $2,900. On the other hand, if whale buying continues and ETH bounces from its current price, we might just see a retest of resistance above $3,750, maybe even $4,250. Stranger things have happened, right?
So, what will it be? Will the whales’ fat stacks of ETH turn the tide, or will the ETF outflows drag Ethereum to new depths? Stay tuned. We’re all in for one wild ride. Only time will tell if the bottom accumulation will spark a real rally. But if fresh capital starts flowing in and ETF sentiment stabilizes, ETH might just have enough wind in its sails to start climbing again. Or not. Who knows?
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2025-11-06 15:14