Ethereum Price Faces Rejection at ATH as ETF Inflows Shift and SBET Declines

Ethereum’s surge paused just 1.94% shy of its all-time high of $4,878 from November 2021, before sellers prompted a decline. Currently, Ethereum USD is hovering around $4,450, pulling back after a +29% increase over the last 30 days.

The failure to overcome resistance underscores the technical pressure that continues to limit upward momentum despite ongoing institutional flows that are a key influence on short-term performance.

ETF Inflows Plummeted Following 8-Day $3.7Bn Streak – Will ETH USD Outflows Persist?

The downturn coincided with the first net outflow from U.S. spot Ether ETFs after nine trading sessions.

Data from Farside indicates that $59.3M exited these products on Friday, concluding an eight-day period that funneled $3.7Bn into BlackRock’s ETHA, Fidelity’s FETH, and Grayscale’s ETH Mini Trust.

(Source)

Since their launch in July 2024, spot Ether ETFs have garnered $12.68Bn in total flows, yet the end of the inflow period provides a new metric for traders assessing the sustainability of the rally. https://cointelegraph.com/news/ether-etf-outflow-day-inflow-streak-billions-eth-price-predictions

ETF flows have emerged as one of ETH’s most consistent indicators of institutional positioning. Analysts emphasize that persistent inflows are essential for contesting the $4,878 ATH barrier.

Standard Chartered elevated its year-end ETH prediction to $7,500 this week, relying on the continuation of robust net ETF appetite.

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SharpLink Wrecked Fuels Change in ETH USD Sentiment

The reversal in flows reflects the impact of a disappointing earnings report from SharpLink Gaming, the second-largest ETH digital asset treasury operator.

As the company recorded a net loss of $103.4M in Q2, equity markets reacted negatively, leading to a -15% drop in stock value.

Approximately $87.8M of the wrecked stemmed from non-cash impairment charges associated with liquid staked Ethereum evaluated at quarter-low prices of $2,300.

Although SharpLink’s holdings of 728,804 ETH are currently valued at over $3.3Bn, the accounting treatment exacerbated headline losses and affected sentiment surrounding ETH treasuries in general.

The combination of a failed price breakout, ETF outflows, and significant losses reported by a major treasury holder underlines the necessity of institutional demand and accounting policies in shaping the short-term ETH USD story – rather than the retail crypto market.

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Ethereum ETFs vs Treasury Accumulation: What’s Influencing ETH USD Prices?

The ETF reversal highlights the vulnerability of momentum when institutional mechanisms halt their purchases.

However, underlying this, corporate accumulation of Ethereum treasury continues to serve as a strong counterbalance.

SharpLink’s notable $103M Q2 wrecked does not reflect that its 728,804 Ethereum stake, now valued at $3.3Bn, has consistently grown through locking tokens rewards.

With a current yield of 3.4%, SharpLink has already registered over 1,300 ETH in rewards this year, creating an organic influx that mitigates valuation shocks.

Other treasury organizations have discreetly increased their stake, with BTCS Inc. and Decentralized finance Development Corp adding reserves in Q2.

The Block estimates that the combined trading market capitalization of public companies holding Ethereum has exceeded $10Bn, establishing ETH as a treasury asset class in its own right.

This aspect is structurally significant: while ETF demand is driven by flows and responsive to market sentiment, treasury allocations are stable, recurring, and often associated with operational models in Decentralized finance infrastructures, gaming, or tokenized yield platforms.

ETF outflows reflect immediate sentiment, while the simultaneous growth of treasury balance sheets indicates a strategic layer of demand that’s less responsive to daily price fluctuations.

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ETH USD Price Analysis: What’s Next for ETH Prices?

As Ethereum USD grapples with the rejection at ATH resistance, ETH is currently priced at $4,397 (indicating a 24-hour change of -0.95%).

Now searching for a lower footing after further declines around $4,490, ETH USD price movements appear poised to test historical base level near the $4,115 price mark.

(ETHUSD)

To base level this outlook, a consistently ascending 20DMA appears set to merge with this lower base level level shortly. Significantly, the 20DMA base level has not been tested by Ethereum USD for the last 10 days, meaning there has been a lack of moving average base level during the previous 8 days of ETF inflows.

A successful consolidation at this price point is likely to lead to a second attempt at the ATH barrier level in the upcoming week. Generally, price movements are seldom entirely rejected from a first resistance test.

This scenario would also gain support from a decrease in the RSI, which has been overextended at a compelling bearish indicator for several days.

In the event of a breakdown, ETH USD will likely find solid base level around $3,750.

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The article ETH Price Rejects at ATH as ETF Flows Reverse and SBET Drops first appeared on 99Bitcoins.