Overview
- ETH rebounded from an intraday drop to roughly $3,700 and is up about 1.6% on the day near $3,865.
- Persistent ETF redemptions weigh on sentiment, led by approximately $118 million out of BlackRock’s ETHA and $31 million from Bitwise’s ETHW.
- Near-term market structure centers on support around $3,600 and firm resistance around $4,000.
- Analysts see a medium-term path toward $4,200–$4,500 if institutional inflows return, with staking, the burn mechanism, DeFi activity and Layer-2 adoption underpinning the case.
- Short-term risks include potential ETF flow reversals, low trading and on-chain activity, technical fatigue, and competition from faster Layer-1s that could pull price back toward $3,700–$3,800.