Overview
- Ethereum, which fell below $2,000 on Friday, saw about $111 million in long positions wiped out in 24 hours, according to Coinglass.
- U.S. spot Ethereum ETFs logged seven straight days of net withdrawals totaling roughly $392 million, signaling weaker demand from large investors.
- Exchange balances have dropped to about 15 million ETH from more than 22 million in 2023, a shift that shows coins leaving trading venues but does not by itself confirm buying.
- Lookonchain tracked BitMine Immersion buying 117,111 ETH over three days after a previously confirmed 65,341 ETH purchase, highlighting selective large-wallet accumulation.
- Derivatives positioning looks tense as open interest rose to 14.72 million ETH while funding turned negative, and chart watchers flag support near $1,911 with a lower zone around $1,741–$1,750.