ETH nears $3K after cool CPI print but $553M Ether ETF outflow raises alarm
Ether approached $3K following a benign CPI report, but significant $553M ETF outflows and declining network activity signal investor concern.Summary
Ether (ETH) recently plunged to $2,800, coinciding with a 13% weekly price decline and substantial outflows from US-listed Ethereum ETFs totaling $533 million since last Thursday, indicating waning institutional interest. While a cooler-than-expected US Consumer Price Index (CPI) print allowed ETH to briefly reclaim $2,950, suggesting potential stimulus, broader risk aversion, partly driven by tech sector weakness, persists. Further bearish signals include a 13% drop in ETH futures open interest and the monthly futures premium narrowing to 3%, signaling weak conviction from long positions. Declining Ethereum DApp fees and a slight reduction in staked ETH also point to lower network activity, suggesting that rebuilding trader confidence will require sustained inflows, not just temporary positive data.
(Source：Cointelegraph)