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1h ago

Ethereum Pulls Back From $4,750 Test as Spot ETF Inflows Extend Seven-Day Streak

Profit-taking and heavy liquidations cooled the latest rally even as exchange balances hover near multi‑year lows that support a tighter medium‑term supply picture.

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Overview

  • Ether fell about 6% to roughly $4,450 after failing to clear the $4,750–$4,800 resistance zone, with traders booking gains following a strong late‑September run.
  • Leveraged positions were flushed as liquidations reached about $688 million in 24 hours, mostly from longs, and futures open interest declined, signaling a near‑term reset.
  • U.S. spot Ethereum ETFs drew about $420–$421 million in net inflows on Oct. 7, marking seven straight days of positive flows and pushing combined assets above $30 billion.
  • Exchange-held ETH has dropped to multi‑year lows near 16.1–17.4 million, with staking and EIP‑1559 burns reducing tradable supply and reinforcing the medium‑term bull case.
  • Flows remain mixed as on‑chain trackers report sizable whale selling, including Trend Research’s 41,421 ETH on Oct. 5, while separate accumulation claims such as a Jack Ma reserve are unverified.