Key Insights
- Ethereum price has lost more than 4% today amid a volatile scenario in the market.
- The US Spot Ethereum ETF has recorded a weekly inflow of $209 million through December 12.
- Analyst predicts ETH price crash to $2,400 citing the latest movement of the token.
The crypto market has continued to witness a topsy-turvy scenario over the past few days, as investors have shifted focus from the riskier assets like digital assets.
Alongside the BTC price, the altcoin sector has also recorded a massive selling pressure, as evidenced by the recent performance of the assets.
Notably, Ethereum price has also struggled recently to break through a key resistance, which has sparked discussions among traders.
At the time of writing, ETH price was down nearly 4%, suggesting that investors are treading cautiously amid the volatile scenario in the market.
On the other hand, the institutions’ interest also seems to be fading, as evidenced by the recent US Spot Ethereum ETF fund flow figures.
Amid this, a renowned expert said that ETH price risks falling to $2,500 or even lower, citing a technical trend.
Simultaneously, another market pundit has also shared a similar trajectory, noting that Ethereum price must break through a key resistance level ahead to flip the current sentiment.
On the other hand, it seems that the corporations have continued to bet on the asset, which showcases their long-term confidence in ETH price.
Ethereum Price Dips As ETH ETF Outflow Sparks Concern
ETH price today slipped nearly 4% at the time of writing, and exchanged hands at $3,118, with its trading volume falling nearly 13% to $20.95 billion.
The crypto has hovered between $3,050 and $3,255 in the last 24 hours. Notably, the current dip in Ethereum price and the broader market scenario came in amid a waning risk-bet appetite of traders.
For context, the US Spot Ethereum ETF has recorded an outflow of $19.4 million on December 12, marking its two-day outflow streak.
However, BlackRock Ethereum ETF (ETHA) has recorded an inflow of $23.2 million on December 12. Meanwhile, the investment instrument saw an outflow of $42.3 million on December 11.
Despite the last two-day outflows, the US Spot Ethereum ETF has recorded a weekly inflow of $209.1 million through December 12.
This indicates that the institutions have turned cautious recently, especially as the broader crypto market volatility soared.
ETH Price to $2,500? Here’s What Experts Think
Amid the highly volatile scenario in the crypto market, the experts have warned of a further dip in Ethereum price.
For context, in a recent X post, analyst Ali Martinez has highlighted the recent movement of ETH price, noting $3,244 as a major support.
In addition, he noted that if the recent movements signify a “flag,” then the crypto may crash to $2,400 in the near future.
This prediction also resonates with a recent analysis from Ted Pillows, where he has hinted towards a potential dip in the asset’s price ahead.
The expert said that Ethereum price holds the $3,000 support to avoid a massive correction ahead.
However, the analysis that he shared showed a possible drop to $2,800 or even $2,500 if Ethereum price loses the $3,000 support.
On the other hand, experts noted that if ETH price can break through the $3,200 and $3,400 resistance levels ahead, the crypto might continue its rally to $4,000.
Meanwhile, amid these contradictory projections, the corporations appear to be buying the dip.
For context, BitMine has made another bet of $46 million recently to accumulate 14,959 ETH, which showcases their long-term confidence in the asset.