Overview

• ETH is trading in the mid-$4,300s to low-$4,500s and probing the $4,505 area that Glassnode’s URPD identifies as a key profit-taking level.
• Spot Ethereum ETFs recorded more than $80 million in net inflows this week, according to SoSoValue, marking a renewed bid from institutions after recent outflows.
• Arkham Intelligence reported a $2 billion USDT mint on Ethereum, injecting new stablecoin liquidity that can be deployed across spot and derivatives markets.
• On-chain firm Alphractal says accelerating withdrawals from centralized exchanges have produced a negative Exchange Flux Balance, pointing to a tighter tradable float.
• Market activity remains elevated with daily spot and futures volumes surging and futures open interest near $59–$60 billion, supporting upside potential but raising short‑term volatility risk.