Ethereum Net Flows Turn Negative As Bulls Push For $3,500
Ethereum net flows have been predominantly negative over the past week, indicating a potential buildup of bullish momentum for the price. Negative net flows suggest that more ETH is leaving exchanges than entering, reflecting higher buying pressure. Recent data shows a 24-hour net flow volume of -$182.86 million, with six out of the last seven days exhibiting negative net flows, totaling -$140 million over the week. In contrast, a 15-day analysis indicates a positive $186.48 million in net flows, suggesting ongoing selling pressure that may be suppressing Ethereum's price despite Bitcoin's all-time highs. The 30-day period reveals even larger deposits, with net flows reaching $483.54 million. If negative net flows persist, it could lead to increased buying pressure and a potential price rally. Analyst Captain Faibik notes that reclaiming the 200-Day Simple Moving Average at $27,000 could enable Ethereum to rise above $3,500 in the near term.
