This time, Ether didn’t just fall along with the others—it was the first to weaken $ETH
I looked through the data, and it made me feel even worse.
Leading the decline isn’t a coincidence; liquidity is choosing its victim. In one day, it fell by nearly 4%, and over seven days, by nearly 9%—worse than Bitcoin. Liquidations exceeded $300 million, even more than Bitcoin’s. When positions are being reduced, high-beta assets are the first to suffer.
ETFs saw outflows for two days in a row, and it was the same fund both times. Ether ETFs saw about $360 million in outflows over two days, with more than $200 million coming from BlackRock’s ETHA. When institutional investors reduce their positions in the same product on consecutive days, that’s not rotation—it’s a cut in exposure.
Its market share fell to 10.6%. Bitcoin’s rose to 57.5%. During periods of risk aversion, money flows only to the biggest channels. To win it back, Ether needs a new narrative—not just a steeper decline.
I looked through the data, and it made me feel even worse.
Leading the decline isn’t a coincidence; liquidity is choosing its victim. In one day, it fell by nearly 4%, and over seven days, by nearly 9%—worse than Bitcoin. Liquidations exceeded $300 million, even more than Bitcoin’s. When positions are being reduced, high-beta assets are the first to suffer.
ETFs saw outflows for two days in a row, and it was the same fund both times. Ether ETFs saw about $360 million in outflows over two days, with more than $200 million coming from BlackRock’s ETHA. When institutional investors reduce their positions in the same product on consecutive days, that’s not rotation—it’s a cut in exposure.
Its market share fell to 10.6%. Bitcoin’s rose to 57.5%. During periods of risk aversion, money flows only to the biggest channels. To win it back, Ether needs a new narrative—not just a steeper decline.