$ETH

Spot ETH In-Depth View | December 9, 2025 07:00 UTC

Key Points:

Ethereum price slightly decreased by 0.68% in the past 24 hours, facing short-term technical weakness and ETF capital outflow pressure. However, significant whale accumulation, institutional product innovation (staking ETF), and network upgrades along with regulatory progress provide solid long-term fundamental support.

Key Developments:

1. Deepening Institutional Interest: BlackRock submitted a staking ETH ETF application and transferred $78.3 million to Coinbase Prime, indicating increased institutional participation. Whale Bitmine increased its holdings by $435 million in ETH, with a total position value exceeding $12 billion, demonstrating long-term confidence.

2. Ecosystem and Regulatory Expansion: Fusaka upgrade completed, and the U.S. CFTC pilot program allows ETH as collateral, with French banks providing trading services, highlighting network improvements and mainstream integration.

Main Risks:

1. Continued ETF Capital Outflow: Ethereum ETFs experienced significant capital outflow, with a net outflow of 41,601 ETH ($130.46 million) in a single day, and a 7-day net outflow of 24,238 ETH ($76.01 million).

2. Short-term Technical Momentum Weakening: MACD shows a death cross, the value (1.73) is below the signal line (5.31), and the histogram is negative (-3.57), indicating downward short-term price momentum.

3. Price Showing Weakness: Short-term price drop indicates selling pressure in the market.

Market Sentiment:

Community sentiment is generally optimistic, with many users expecting the price to rebound based on institutional interest and network development, and leaning towards long-term holding of ETH.

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