Ethereum Drops 6.6% as Spot ETFs See $1.4 Billion in Net Outflows

Ethereum fell 6.6% over the past week, trading below its 7-day and 30-day moving averages. Spot Ethereum ETFs recorded more than $1.4 billion in net outflows, while long-term holders who held coins for three to ten years sold at the fastest rate since 2021. During the decline, whale addresses accumulated hundreds of thousands of ETH valued at over $1 billion, data show.