Ethereum (ETH) Spot ETF Outflows Extend to 7 Days and $565 Million

Update 19:02 UTC: One altcoin bucked the weak tape on Starknet news.

Money kept leaving US spot Ethereum (ETH) ETFs for a seventh consecutive session, when the funds posted another $160.7 million in net outflows on the Wednesday session of October 7 and pushed the streak's cumulative total to roughly $565 million, ETF flow tracker SoSoValue shows. No session in the run has produced a net inflow, and institutional investors have kept redeeming while the market slipped. The pressure landed directly on Ethereum (ETH): the asset fell close to 4% to trade near $2,470, logging a third straight session of losses, and Ethereum price still sits below $2,500 at about $2,487 at the time of writing. Macro conditions set the tone. The 10-year US Treasury yield reached 5.35%, its highest reading in 24 years, and the 30-year yield climbed above 5.70%. A 24-year high means the 10-year now sits above every yield printed since 2002. Both retreated, to 5.23% and 5.60%, after President Donald Trump said the United States would not strike Iran before the November 3 midterm elections, yet minutes from the Federal Reserve's September meeting confirmed expectations of further rate increases this year, keeping risk assets on the defensive. Higher yields raise the return on cash and bonds, making non-yielding risk trades harder to hold. Supply-side readings mirror the flows. On-chain analytics firm CryptoQuant reports Ethereum (ETH) balances across exchanges up roughly 132,000 coins since Monday and about 233,000 over the past two weeks, a buildup typically read as standing sell supply. Ethereum's proof-of-stake design keeps much of the supply with validators and in staking rather than on venues, which makes the exchange buildup a cleaner read of coins positioned for sale. The slide has rippled across the broader Altcoin market, with ETH at the center of the day's forced unwinding.

Whale Wallets Shed 427,000 ETH

Large holders are selling alongside the funds. Whale wallet addresses in the 10,000 to 100,000 ETH band cut roughly 151,000 ETH over the past two weeks, while addresses holding 1,000 to 10,000 ETH and 100 to 1,000 Ethereum (ETH) shed a combined 276,000 coins, so every tracked cohort above 100 ETH shrank during the decline. Leverage amplified the drop. A liquidation is the forced closure of a leveraged position once margin runs out, and derivatives tracking data records $351.6 million in Ethereum liquidations over the past 24 hours, the largest figure of any cryptocurrency, split between $294.6 million from long positions and $57 million from shorts. The losses concentrated on traders positioned for a rebound. Forced selling of that size tends to deepen intraday swings even when spot demand is stable. The chart has tilted bearish as well. ETH trades below both its 20-day EMA at $2,631 and its 50-day EMA at $2,502, its 14-day RSI has slipped to 37, and the stochastic oscillator, at 18, sits in oversold territory, though an oversold reading alone does not guarantee a bounce. Immediate support rests at $2,355 and at the 100-day EMA near $2,338. A daily close below that band opens downside targets at $2,204 and then $1,972. A recovery needs to reclaim $2,548 first, then the cluster where the 20-day EMA and horizontal resistance overlap at $2,631-$2,636, with $2,781 the next major hurdle. Readers can follow the updated levels in our live Ethereum technical analysis. With ETF money still leaving and exchange balances still climbing, the defense of the $2,355-$2,338 zone has become the variable that decides the next leg of the move. Analysts tracking the structure describe it as neutral to bearish while price trades under the short-term moving averages.

Follow-up technical readings frame the pullback as higher-volume selling rather than routine noise. Ethereum slipped intraday from roughly $2,700 to $2,525, with the September high near $2,800 still unclaimed and price testing short-term support around $2,505. The RSI has eased to about 42, weak momentum but not yet oversold, and analysts watch for a daily close above $2,550 as the condition for buyers regaining strength. Should the day close under $2,500, downside projections move to $2,400 and then the $2,300-$2,350 band. The view holds that as long as $2,500 defends, ETH may search for balance between $2,500 and $2,700, while losing it opens a deeper retreat.

Newer technical readings show the recovery stalling under $2,500. Ethereum traded near $2,493 on Oct. 9, up 0.73% for the session, after falling from about $2,700 to a wick close to $2,400, and the daily Supertrend has flipped bearish with resistance at $2,764. The 4-hour chart adds little support: the Bollinger midpoint sits at $2,568.56 and the Chaikin Money Flow reads -0.10, leaving the bounce unconfirmed. Farside Investors data shows another $72.5 million in ETF outflows on Oct. 8, taking redemptions to $486.1 million across four sessions and extending the streak to eight days. CoinGlass's liquidation heatmap places the largest overhead cluster at $2,635-$2,640, with smaller bands near $2,450 and $2,400 below. On the weekly chart, analyst Wealthmanager points to an inverse head-and-shoulders structure whose retest, if it holds, could open a path toward $3,200-$4,000.

One altcoin bucked the weak tape on Starknet news. STRK jumped 18.1% in 24 hours to trade above $0.06 after StarkWare CEO Eli Ben-Sasson discussed the network's future, saying that quantum computing and artificial intelligence could strain the security structure of blockchain networks and that one option under review is for Starknet to leave its Ethereum-based Layer-2 setup and become an independent Layer-1 so security updates can ship more autonomously. The remarks are not a confirmed migration or a governance decision, and the team has laid out no timeline or role for the STRK token in a new structure. Starknet also recently moved the v0.14.4 update to mainnet, lifting capacity per single proof to roughly 1.1 billion Layer-2 gas, and the rally's durability depends on whether the plan becomes a concrete technical proposal.

Crowded Longs Under the $2,498 Ceiling

Our live composite readings put ETH at $2,494.68, down 0.19% over 24 hours, still capped by the heaviest band of supply overhead. The $2,570.19 resistance scores 95/100 on our support and resistance scoring, with the next cap at $2,510.31, scored 84/100. The first strong support beneath sits at $2,459.96 at 69/100, and the heavier floor is $2,353.89, scored 89/100. The trend label remains sideways, with the RSI at 39.84 and a bearish MACD signal. Positioning has not capitulated: perp funding is a mild 0.0026% and the long/short account ratio stands at 2.20, with 68.8% of accounts still long. Open interest holds near $10.60B while the Fear & Greed Index reads 64, in greed territory. A daily close under the $2,353.89 level would leave that crowded long side as the next source of forced selling (as of 08:38 UTC).