Ethereum is trading steadily around $2,400 despite a sharp rise in ETF inflows, which hit $283 million last week and $1.13 billion in June. Institutional interest is strong, but bearish signals persist: ETH balances on exchanges are rising, whale holdings are dropping, and the price has slipped below key technical levels like the 200-day EMA.
These trends suggest growing selling pressure, and analysts warn that Ethereum could dip below $2,000 soon, despite bullish ETF momentum. Despite a significant surge in institutional interest and record inflows into Ethereum Exchange-Traded Funds (ETFs), Ethereum’s price remains stagnant at around $2,400, sitting 15% below its monthly peak.
Ethereum ETFs recorded $283 million in inflows last week and a total of $1.13 billion in June, reaching cumulative inflows of over $4.1 billion since September.
However, on-chain data presents a cautious outlook, as ETH held on exchanges has increased, suggesting potential selling by investors, and whale holdings have decreased.
Furthermore, Ethereum has fallen below its 200-day Exponential Moving Average, a bearish technical signal that previously led to a 55% price drop, and has broken down from a bullish flag pattern.
Analysts warn that this combination of rising selling pressure and technical weakness puts Ethereum at risk of dropping below $2,000, despite the growing ETF-driven interest.
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