Ethereum (ETH) declined more than 7% over seven days through October 10, trading at $2,491 and down 0.39% in 24 hours. Trading volumes fell 61% to $7.2 billion, according to CoinMarketCap data.
The price weakness coincided with significant outflows from spot Ethereum ETFs. Data from SoSoValue showed Ethereum ETFs recorded $542 million in outflows for the week ended October 9, marking the highest weekly outflows since late January. BlackRock's iShares Ethereum Trust (ETHA) accounted for $477 million of those outflows, the largest weekly withdrawal from that product since December 2025.
US-listed crypto ETFs collectively saw their largest weekly outflows since June, with Bitcoin leading at $681 million in outflows.
Exchange Inflows and Liquidation Signals
Exchange balances of Ethereum increased to 11.8 million ETH on October 9, up from 11.71 million ETH on October 8—adding 90,000 ETH in 24 hours and reaching the highest level since September 23. This spike followed Ethereum's 70% gain in Q3 relative to Bitcoin.
Open interest in Ethereum futures declined from 13.29 million ETH on October 8 to 12.77 million ETH at the time of reporting, suggesting reduced demand for leveraged positions.
Technical Indicators and Support Levels
Ethereum's relative strength index (RSI) fell to 39, reaching a 4-month low not seen since June. ETH dropped below its 50-day simple moving average, a move analysts associate with bearish sentiment.
With Ethereum trading below the $2,500 psychological support level, key technical levels now in focus include immediate support at $2,370 and the 100-day SMA at $2,200. A sustained recovery would require ETH to close above the 50-day SMA.
