Ethereum's Five-Day Inflow Streak Ends with Friday's Net Outflows
Ethereum (ETH) experienced a significant setback on Friday, July 25, as US-listed spot Ethereum ETFs recorded $70.62 million in net outflows, ending a five-day inflow streak that had brought in $211.25 million between July 17 and July 24.
Despite the reversal, Ethereum ETFs still posted $103.9 million in net inflows for the week, extending their weekly inflow streak to three consecutive weeks. Total July inflows for ETH ETFs now stand at $337.74 million.
The drop in Ethereum's price has also caused its ETH/BTC ratio to fall to 0.028, its lowest level since last August. This kind of underperformance against Bitcoin has historically preceded broader altcoin seasons, but analysts say more confirmation is needed.
Analyst Ted (@TedPillows) noted that ETH is still holding above its support zone and believes the rally may not be finished yet.