Overview
- Ethereum is trading around $1,620 with the $1,600 area serving as immediate support after a week of losses that left the token at the lower end of its recent range.
- ETH held on exchanges has fallen to about 14.5 million, the lowest on record, while staked ETH reached roughly 39.28 million as investors shift coins off exchanges and into validators.
- Binance-driven futures open interest has climbed to about 3.7 million ETH and perp-spot volume is heavily imbalanced, which has magnified leverage and helped trigger roughly $68.5 million in liquidations over 24 hours.
- US spot ETH ETFs recently recorded modest outflows of about $40.85 million and broader macro pressure has tightened liquidity, reinforcing short-term selling pressure on price.
- The market now hinges on renewed spot buying or calmer futures funding to steady price; traders should watch $1,600 support, funding rates, exchange flows, and any rebound in ETF inflows for signs that forced selling risk is easing.