- U.S. Ethereum ETFs saw $197 million in outflows on Monday, the second largest single-day withdrawal.
- Pending ETH unstaking requests reached $3.9 billion, setting a new record.
- Both Ethereum and Bitcoin prices retreated from recent peaks as investors locked in profits.
- Technical analysts highlight $4,400 as key support for Ethereum and $115,000 for Bitcoin.
- Geopolitical tensions and ongoing U.S.-Ukraine–Russia negotiations are influencing market movements.
U.S. spot exchange-traded funds (ETFs) focused on Ethereum experienced significant outflows on Monday, with $197 million withdrawn by investors. This figure marks the second-highest daily exit on record for these products, coinciding with increased requests to withdraw staked ETH.
On the same day, pending Ethereum unstaking requests rose sharply to $3.9 billion. This activity comes just after Ethereum’s price failed to surpass its all-time high, with its recent peak reaching about $4,776.
BRN Head of Research, Timothy Misir, indicated that both the large ETF withdrawals and new unstaking records are affecting short-term market confidence. In a note to investors, Misir identified $4,400 as a crucial support level for Ethereum. He stated, “These factors are pressuring near-term sentiment.” At the time of reporting, Ethereum traded around $4,204.
Investors appear to be taking profits after Ethereum climbed 66% over the previous year. Despite the withdrawals, Ethereum ETFs hold approximately 5.08% of the token’s total supply. Misir suggested this share could surpass the 6.38% of Bitcoin currently held in ETFs if strong inflows persist. On Monday, Bitcoin-focused funds also saw outflows, totaling $122 million.
Although Bitcoin retreated from a recent high of $124,457, large holders, often called “whales,” have continued to accumulate the cryptocurrency. Over the past six days, wallets with at least 10,000 Bitcoin added over 20,000 coins. Misir said Bitcoin maintains “structural support” at $115,000, with any move above $121,000 possibly leading to a price test near $123,000 to $127,000.
The market changes occurred as Donald Trump invited European leaders to address the ongoing war in Ukraine, following a summit with Russian President Vladimir Putin. Misir explained that further negotiations could increase investor interest in riskier assets like crypto. He commented, “Geopolitical developments around U.S.–Ukraine–Russia trilateral talks now inject additional two-way risk: a ceasefire could catalyze BTC’s push above $120K, while escalation risks argue for caution.”
For now, technical analysts are closely watching key support and resistance levels, as broader political events continue to impact cryptocurrency prices.
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