๐Ÿ“‰ Ethereum Price Drops 12% as Spot ETFs See Major Outflows ๐Ÿ’ผ๐Ÿ“Š

๐Ÿ“Š ETH Price Takes a Hit: Ethereum ( $ETH ) has seen a 12% decline over the past week, currently trading around $3,342. This drop follows a US Federal Reserve rate cut and a slump in spot ETH ETF performance, raising concerns about sustained investor interest.

๐Ÿ’ผ Spot ETH ETFs Face Outflows: Spot Ethereum ETFs recorded $135M in net outflows across December 19โ€“20, ending an 18-day streak of positive inflows. BlackRock's ETHA fund led the decline with a $103.7M outflow, while Fidelity (FETH) and Grayscale (ETHE) posted modest gains.

๐Ÿ“‰ Investor Sentiment Wanes: The ETH ETFs' lackluster performance reflects a broader trend in crypto ETFs, with spot Bitcoin ETFs also recording $276M in net outflows last Friday. This shift indicates cooling investor sentiment across digital asset products.

๐Ÿ”‘ Weekly Net Inflows Remain Positive: Despite two consecutive days of losses, Ethereum ETFs still managed to close the week with a net inflow of $62.73M, marking the fourth consecutive week of positive totalsโ€”a small silver lining amid the market downturn.

๐Ÿ”ฅ Path Forward for ETH Price: For Ethereum to regain momentum, ETF inflows need to return to positive territory. Investors will closely watch ETF activity as a potential indicator of market recovery and future price movement.

๐Ÿ“Œ Conclusion: While Ethereum faces short-term headwinds, ETF performance and macroeconomic conditions remain key drivers for its price trajectory. A return to strong ETF inflows could provide the boost ETH needs. ๐Ÿš€๐Ÿ“ˆ