Ethereum Slips, Early Distribution Signals Flash
Calling a 10% pullback in ETH a 'healthy reset' may be a bit hasty.
Early distribution signals are taking effect, and $39,000 is starting to look like a local top, or at least a level that requires significant spot demand to break through again.
According to data from SoSoValue, outflows from ETH ETFs have just hit an all-time high, with daily outflows exceeding $500 million. This clearly reflects a shift in institutional capital flow, moving from steady inflows in July to a full cooling mode.
Meanwhile, Fidelity Investments transferred 14,978 ETH (worth $53.6 million) to Coinbase Prime, possibly preparing to sell off in response to market trends. This is a typical profit-taking move by savvy investors when the market turns to risk aversion.
