ETH Price Tumbles as Selling Pressure Rises Ahead of Inflation Data

The Ethereum price has seen some turbulence in recent days, with institutional demand easing ahead of U.S. inflation data and rising oil prices.

The U.S. spot ETH ETFs saw $14.59 million in daily net outflows on the 10th of August, breaking its recent four days of consecutive outflows.

Besides the slow institutional appetite, there was a broader uptick in selling pressure across exchanges.

The weekly Exchange Netflow has been climbing higher in August, according to CryptoQuant data. This metric tracks the net difference between ETH entering exchanges and ETH being moved out.