Ethereum price under pressure as ETF outflows align with extreme fear index

Spot Ethereum ETFs see four straight weeks of outflows as price and sentiment slide.

Recent reports from Lookonchain indicated funds recorded additional losses in recent trading sessions, as Ethereum price continues to face downward momentum hovering around $2,000 USD.

Spot Ethereum exchange-traded funds have recorded four consecutive weeks of net outflows, with signs pointing to a fifth straight week of redemptions, according to historical data from SoSoValue.

The outflows have coincided with a sharp correction in Ethereum prices, with the spot price declining significantly over the same timeframe. U.S. spot Bitcoin ETFs have similarly experienced notable outflows as cryptocurrency prices fell, according to market data.

Ethereum traded lower during the reporting period, while total cryptocurrency market capitalization declined, according to market tracking services.

The Crypto Fear & Greed Index has fallen into “Extreme Fear” territory, indicating heightened risk aversion among market participants. Daily Ethereum trading volumes have also decreased during the period.

Technical analysis showed the digital currency trading below its longer-term moving average, with the short-term moving average functioning as near-term resistance. Market analysts noted that until Ethereum reclaims its prior higher range, downward pressure may persist.

The cryptocurrency’s ability to defend key support levels remains a critical factor, as a breach could trigger a deeper correction, according to market observers.