Ethereum News: ETH Slides Below $3K as Institutions Diverge
AI Summary
Key Takeaways:
Ethereum price drops 3.19% in 24 hours, underperforming the broader crypto market
$62M in ETH long liquidations follow a break below $3,000 support
Spot Ethereum ETFs posted over $600M in outflows last week but some institutional confidence remains
Immediate Market Moves And ETF Flows
Ethereum declined 3.19% over the past 24 hours, falling more than the broader crypto market at -2.5%. The drop coincided with heightened caution ahead of key U.S. GDP data, prompting risk reduction across digital assets.
Spot Ethereum ETFs recorded their largest weekly withdrawal since August 2025, exceeding $600 million. BlackRock’s ETHA accounted for roughly $470 million, with additional pressure from Fidelity FETH ($35M) and Grayscale ETHE ($49M). Persistent ETF withdrawals weaken an important source of institutional support.
Macro Context And Derivatives Pressure
Risk-off sentiment intensified as traders positioned ahead of macro data following the government shutdown. Ethereum open interest has fallen sharply since August, indicating reduced leverage and thinner liquidity.
During the decline, $62 million in ETH long liquidations occurred as prices touched intraday lows near $2,947. Despite a 31% jump in daily trading volume to $18.8 billion, most of the $222 million in liquidations hit bullish positions, reflecting low confidence.
Technical Structure And Key Levels
From a technical perspective, Ethereum price failed to maintain the $3,000 psychological level. The token now trades below short-term averages, with the 10-day EMA at 2,986.6 and the 20-day EMA at 3,019.2, highlighting sustained selling pressure.
Source: TradingView
Longer-term references remain elevated, including the 200-day SMA at 3,578.9, underscoring the distance to trend recovery. Momentum indicators remain neutral-to-bearish, while narrowing volatility bands suggest compression ahead. Market participants are monitoring $2,900–$2,875 as a key demand zone, especially with $27
