Spot Ethereum ETFs just logged a record $465 million in daily outflows. Before you panic, let's break down the important points:
Profit-Taking is Likely: This massive outflow is mainly attributed to short-term profit-taking after Ethereum's strong rally in July. This is a common and often healthy part of the market cycle.
Broader Market Move: It wasn't just ETH. Spot Bitcoin ETFs also saw over $333 million in outflows on the same day. This points to a broader "risk-off" sentiment among institutions, not a specific rejection of Ethereum.
Institutional Demand Still Strong: Despite the daily fluctuations, the overall institutional interest in Ethereum remains robust. July saw a record $5.4 billion in inflows for ETH ETFs.
Key Levels to Watch:
Support: Keep an eye on the $3,500 and $3,400 levels. Holding here is crucial.
Resistance: A break above $3,750 would be a bullish sign that the selling pressure has been absorbed.
What's your move? Are you buying, holding, or selling the dip?
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