Ethereum Updates: Major Holders Accumulate as ETFs See Outflows, Price Drops Under $3,000

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Ethereum Updates: Major Holders Accumulate as ETFs See Outflows, Price Drops Under $3,000

Bitget-RWA2025/11/17 20:46

By:Bitget-RWA

- Ethereum's price fell below $3,000, sparking bear market fears and ETF outflows. - Institutional confidence wanes as spot ETFs see net outflows for four of five weeks. - Technical pressures trap ETH in a falling wedge pattern, with whales accumulating but facing key resistance levels. - Crypto funds recorded $2B in outflows, driven by Bitcoin’s six-month low and macroeconomic pressures. - Analysts cautiously optimistic about a potential $2,850 support level but warn recovery remains uncertain.

Ethereum experienced a sharp decline, falling below $3,000 for the first time since early November. This drop has intensified concerns about a prolonged bear market and cast doubt on the cryptocurrency’s future prospects. On Sunday, ETH touched $3,066, coinciding with a spike in ETF withdrawals and mounting worries about diminishing institutional trust.

Spot ether ETFs have seen net withdrawals

in four out of the last five weeks, according to investment manager Timothy Peterson, who pointed to this as evidence of weakening confidence among long-term investors. The downturn is part of a broader slump across the crypto sector, with

Bitcoin also sliding

to its lowest point in six months, leading to more than $1.4 billion in forced liquidations.

Technical factors have further fueled the sell-off.

Ethereum Updates: Major Holders Accumulate as ETFs See Outflows, Price Drops Under $3,000 image 0

On the 4-hour chart, Ethereum appears confined within a tightening falling wedge—a formation that often leads to sharp price swings. While ETH is still trading above its 200-day moving average near $2,550, which has historically provided support, it faces significant resistance at the 200-day EMA ($3,660) and at major supply levels around $3,550 and $3,800.

Blockchain analytics also indicate

a contradiction: although large investors (whales) are accumulating ETH, their purchases may not be sufficient to halt the decline. One major whale

acquired $1.38 billion worth of ETH

over a ten-day period, using borrowed capital to increase exposure. At the same time,

Ethereum

whales holding between 10,000 and 100,000 ETH

boosted their combined holdings

by 180,000 ETH in just one week. Still, analysts caution that if ETH falls below $3,100, it could trigger even more aggressive selling.

The wider market outlook remains troubling.

Cryptocurrency investment products saw $2 billion in outflows

last week—the largest since February 2025—as

Bitcoin

and Ethereum ETFs continued to lose assets.

Bitcoin’s drop below $100,000

has unsettled traders who rely on momentum, while broader economic challenges—such as fading expectations for a Federal Reserve rate cut—have worsened liquidity issues. “This is a liquidity adjustment, not a crisis of confidence in the asset,” said Alessio Quaglini, CEO of Hex Trust,

referencing a wave of forced liquidations

that followed renewed trade tensions between the U.S. and China in late October.

Despite the negative sentiment, some market watchers remain cautiously hopeful. Ethereum may find support near $2,850, a level that has historically served as a cyclical floor. Moreover,

targeted purchases by companies like Strategy

, which recently added $835.6 million in Bitcoin to its reserves, indicate that institutional interest has not disappeared. Nevertheless, the road to recovery is uncertain. With ETF outflows persisting and retail investor confidence at a low point, Ethereum’s chances of reaching its previous record highs seem increasingly remote.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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