David Awoyode
Spot Ether exchange-traded funds (ETFs) in the United States ended an eight-day inflow streak on Friday with $59.3 million in outflows, according to Farside data. The prior streak had brought in roughly $3.7 billion over nearly two weeks.
Ether Falls Short of 2021 Record
The reversal came a day after Ether’s price climbed to within 1.94% of its 2021 all-time high of $4,878, before sliding back to $4,448 at the time of reporting, based on CoinMarketCap data.
ETF Flows Seen as Market Indicator
Market analysts consider ETF flows a crucial signal for Ether’s performance, with some arguing sustained inflows could push the cryptocurrency back toward — and possibly beyond — previous highs.
Analysts Weigh In on Price Outlook
Nansen analyst Jake Kennis remarked that the current rally will persist “as long as the flows and narrative remain strong.”
Crypto trader Langerius predicted Ether could reach $10,000 if steady inflows continue, while Merlijin The Trader described the recent surge in ETF activity as “institutional FOMO.”
Social Media Sentiment Mixed
Sentiment platform Santiment noted that Ether isn’t attracting as much online bullishness as Bitcoin, a trend that historically suggests Ether could slightly outperform Bitcoin in the short term.
Unstaking Activity Signals Potential Profit-Taking
Cointelegraph recently reported that the growing queue of unstaked ETH could point to upcoming profit-taking. Currently, 877,106 Ether — valued at $3.88 billion — is queued for withdrawal.
Treasury Firms and ETFs Absorbing Selling Pressure
DeFi analyst Ignas said that recent accumulation by Ether treasury firms and spot Ether ETFs is helping to absorb much of the market’s selling pressure, supporting price stability.
Charles Esther