1. Reported ETH outflows / BlackRock sell-pressure

Recent reporting suggests $76M in outflows from Ethereum ETFs, with BlackRock’s ETHA fund reportedly withdrawing $15.07M of that. CoinCentral

Prior instances have seen BlackRock move large ETH positions — e.g. $254M worth of ETH was reportedly sold in one session to meet ETF redemptions. CoinCentral

That said, some narratives argue that these moves may be routine portfolio rebalancing, not aggressive directional bets. IDN Financials+1

So, yes — there’s tangible evidence of institutional outflows putting pressure on ETH’s near-term sentiment.

2. The timing and pattern matter

You pointed out an interesting pattern: large ETH offloads happening roughly a week apart. Whether deliberate or coincidental, it’s enough to spook traders.

In crypto, repetitive institutional moves or quasi-algorithmic flows tend to trigger reflexive reactions from retail and other institutional participants (e.g. stop runs, margin liquidations). This can magnify volatility, especially in short timeframes.

3. Historical behavior & resilience

Ethereum has, more than once, rallied after deeper pullbacks — in part because long-term demand, staking dynamics, protocol upgrades, and developer activity often provide structural support.

Institutional capital flows (ETFs, staking, treasury exposure) can act as a “floor” under price, though that floor is not impermeable in strong bear pressure.