Ethereum Price Plunges on Spot ETF Inflow Reversal

The Ethereum price has dropped by 1.26% to $2,694.64 in the past 24 hours, underperforming a slightly weaker broader market.

This decline is primarily driven by a break in its spot ETF inflow streak, which had been a key pillar of recent price support.

BlackRock's ETHA saw an $8.94 million outflow on September 29, signaling a pause in institutional buying momentum that had supported the recent rally.

A sharp price drop triggered significant liquidations, with $11.88 million in Ethereum long positions wiped out in a single hour on September 29.