Ethereum bears keep selling but ETH price stays near $2,700 as US spot ETFs record $206M in outflows
Summary
US spot ETH ETFs saw five consecutive sessions of outflows, losing $205.88 million since Sept. 29, while ETH traded near $2,700. A spike in dormant-coin activity raised questions about long-term holders repositioning, but exchange balances barely changed, suggesting transfers or staking activity may explain it. Derivatives data show aggressive selling: Binance ETH taker-flow turned sharply negative, even as open interest remains elevated and ETH holds well above its August level. Leverage has eased to a seven-month low. The mixed signals leave ETH’s direction dependent on whether ETF withdrawals and exchange reserves rise, or prices continue absorbing sell orders and short positions become vulnerable to a recovery.
