Ethereum's price movement today is being shaped by significant outflows from Ether ETFs, as reported by Farside Investors. The report notes a total outflow of $68.5 million from Spot Ether ETFs, with Fidelity's FBTC and Bitwise's ETHW seeing notable withdrawals. This trend reflects broader market sentiment, where investors remain cautious amid economic uncertainties and potential interest rate changes. These outflows have contributed to Ethereum's difficulty in maintaining its recent price levels, despite technical indicators suggesting potential bullish momentum. Additionally, the anticipation of regulatory changes and the upcoming FOMC meeting have created a cautious environment, leading to a decline in trading volume and general hesitance in the crypto market.
The Volatility Shares Trust 2x Ether ETF (ETHU) is currently priced at $7.22 as of 5:00 AM on Saturday, January 11.