Ether ETFs See $118 Million Outflow as Ethereum Price Hits Lowest Level Since September

The US spot Ether ETFs have seen a net outflow of $118 million over three consecutive trading days, while Bitcoin funds are gathering cash. This comes as Ethereum (ETH) closes at its lowest level since September 20, around $2,670. Despite the outflows, the demand for ETH remains fundamentally strong, with $832 million flowing into the Ether funds in September.

The outflow from the US spot Ether ETFs is a warning signal for the Ethereum price prediction. The levels on the chart also indicate that the sideways phase to the downside may end if ETH closes below $2,645. This level is barely one percent above the current price of around $2,669.

The supply question also plays a role in the falling price of Ether. Around 1.6 million ETH are queuing to exit staking, which could potentially add more selling pressure on the market.