Institutions are fleeing—so why is the amount of ETH on exchanges shrinking the more they sell?
On November 5 alone, U.S. spot ETH ETFs saw nearly $100 million in net outflows. BlackRock’s ETHA accounted for $75.2 million of that, after outflows of $140 million and $85.3 million on November 2 and 3, respectively. ETH fell 8% in a day to $2,220, with the $2,200 level right below. The fear index plunged from 50 to 28 in a single day.
But on the other hand, only 14.6 million ETH remain on exchanges, down from over 21 million at the start of the year. Some are openly fleeing, while others are quietly accumulating.
Tonight’s 21:30 nonfarm payrolls report will be the dividing line:
A: If $2,200 holds and ETF outflows ease, first target for a rebound is $2,400
B: If $2,200 breaks, ride the short momentum; the next step down is $2,000
Which side are you on?
$ETH $BTC $SOL
#以太坊 #ETF #NonfarmPayrolls
On November 5 alone, U.S. spot ETH ETFs saw nearly $100 million in net outflows. BlackRock’s ETHA accounted for $75.2 million of that, after outflows of $140 million and $85.3 million on November 2 and 3, respectively. ETH fell 8% in a day to $2,220, with the $2,200 level right below. The fear index plunged from 50 to 28 in a single day.
But on the other hand, only 14.6 million ETH remain on exchanges, down from over 21 million at the start of the year. Some are openly fleeing, while others are quietly accumulating.
Tonight’s 21:30 nonfarm payrolls report will be the dividing line:
A: If $2,200 holds and ETF outflows ease, first target for a rebound is $2,400
B: If $2,200 breaks, ride the short momentum; the next step down is $2,000
Which side are you on?
$ETH $BTC $SOL
#以太坊 #ETF #NonfarmPayrolls