Crypto
Ethereum ETFs Bleed $224 Million, ETH Price at Risk?
Crypto whales add over $20 million worth of ETH despite a record $224.11 million outflow from U.S. spot Ethereum ETFs.
14h ago 4,280
BLOCKINSIDERLoadingCrypto whales add over $20 million worth of ETH despite a record $224.11 million outflow from U.S. spot Ethereum ETFs.
The recent outflow from U.S. spot Ethereum ETFs marked its biggest single-day outflow since January 2026, totaling $224.11 million. Despite this outflow, crypto giants appear to be accumulating ETH, indicating a potential upside opportunity for the asset.
As per SoSoValue data, U.S. spot Ethereum ETFs recorded $224.11 million in outflows on September 16, 2026. This notable outflow was the biggest since January 30, 2026, when the ETFs recorded an outflow of $252 million.
The outflows from the ETFs suggest a lack of investor interest in the underlying asset and raise concerns about Ethereum’s price outlook.
Despite the notable outflows, ETH price climbed 2.85% over the past 24 hours and traded at the $2,455 level. However, during the same period, the asset’s trading volume saw a modest decline of 8.5% to $16.13 billion.
Will Ethereum’s price continue its upward move, or is a potential decline ahead?
Crypto giants and analysts appear optimistic about ETH. Recently, crypto transaction tracker Lookonchain shared posts on X revealing that two crypto whale wallet addresses, 0xC2f1 and 0x0058, together accumulated 8,063 ETH worth $19.94 million.
Meanwhile, a prominent crypto analyst made a prediction, stating that Ethereum’s price is eyeing the $2,570 level.
In a post on X, the analyst noted that despite the volatility over the past few days, ETH remains contained within its 4-hour parallel channel. The price has now reached the lower boundary of the channel and may rebound toward the upper boundary at the $2,570 level. He added,
“A strong 4-hour close above $2,570, backed by volume, could confirm a breakout and open the door to $2,700 and potentially $3,000.”
As per the TradingView daily chart, ETH’s short-term bias appears bullish but is currently stuck in a tight consolidation zone between the $2,400 and $2,555 levels. The recent price recovery from key support suggests that the asset could continue its upward momentum until it reaches the upper boundary at the $2,555 level, as it did in the past.
However, a major rally in either direction could only follow if the asset breaks out of the consolidation zone. Based on the current price action, if ETH falls below the $2,400 level, it could see a sharp downside move and may decline to its next support near $2,200. Meanwhile, a massive upside move could emerge if the asset clears the upper boundary at the $2,555 level.
At press time, the asset traded above the 200-day Exponential Moving Average (EMA), indicating bulls’ dominance and suggesting that the broader market is in an uptrend. Meanwhile, the Average Directional Index (ADX) stood at 46.99, above the key threshold of 25, indicating strong trend strength.
All the above aspects together suggest that Wall Street investors appear cautious amid a sideways market, whereas crypto giants seem to be taking advantage of the price correction.
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