Ethereum ETF Fund Outflow Alert! $3.29 million net outflow + ETH/BTC historical low, giant whales collectively turning to Bitcoin?
Key Signal Breakdown
1. Institutional Withdrawal Signals
- Fidelity $FETH single-day net outflow of $3.29 million, BlackRock $ETHA zero liquidity—main funds stop replenishing, forming a stark contrast with Bitcoin ETF's average daily net inflow of $380 million.
- Implicit Message: Expectations rise for the SEC to reject the Ethereum ETF in May, and institutions are taking precautions in advance.
2. ETH/BTC Death Cross
- Exchange rate drops below 0.019 (the lowest since February 2020), halving again from the 2021 peak of 0.084, with funds accelerating towards Bitcoin.
- Technical Analysis: Weekly level descending channel opens, next support at 0.015 (2018 bear market low).
3. Market Sentiment Shift
- Ethereum staking rate plummets to 18% (historical average 26%), giant whale addresses reduce holdings by 7% over 30 days, on-chain activity shrinks (Gas fees drop to 2 gwei)—a double blow to ecosystem enthusiasm and capital confidence.
If ETH/BTC falls below 0.015, Ethereum may completely become a 'sidechain supporting role' in the Bitcoin ecosystem, with the narrative of this bull market shifting from 'dual kings driving' to 'Bitcoin solo performance'.
