Ethereum Strengthens as $393M Outflow Signals Accumulation, ETF Demand Tops BTC

ETH Dips Slightly, But Exchange Outflows and ETF Inflows Point to Bullish Accumulation

Ether (ETH) slipped 0.15% to $2,758 on Wednesday, pulling back from a session high of $2,872 as late-day selling in U.S. markets and continued pressure in Asia weighed on price. However, underlying market metrics point to rising interest from both retail and institutional players.

The pullback came after a brief rally stalled near the $2,870 mark. A wave of selling between 15:00 and 17:00 UTC reversed intraday gains, and further downside followed in early Asia hours, when ETH dropped from $2,772 to $2,736 — a 1.29% move on heavy volume — before stabilizing.

Options, On-Chain Data Suggest Bulls Are Building Positions

Despite short-term weakness, sentiment in the derivatives market remains bullish. According to Glassnode, one-week ETH options skew dropped from –2.4% to –7.0% in just 48 hours, reflecting elevated demand for upside exposure through call options. Put-call ratios have also remained skewed toward bullish bets.

On-chain trends supported this view. Sentora data showed that over 140,000 ETH — worth $393 million — left exchanges on June 11, marking the largest single-day outflow in over a month. Large exchange outflows are often seen as a sign of accumulation, particularly when accompanied by ETF demand.

ETH-focused exchange-traded funds recorded $240.3 million in inflows, surpassing bitcoin ETF flows for the day. Ethereum has not logged a single net ETF outflow since mid-May — a sign of sustained institutional appetite. Analyst Anthony Sassano noted the consistent inflows reflect confidence in Ethereum’s valuation and long-term positioning.

Technical Picture: Short-Term Resistance, But Long-Term Setup Strengthens

ETH traded in a $2,733–$2,872 range on June 11.
Sharp rejection around $2,870–$2,880 initiated the late-session reversal.
Short-term support near $2,745 broke briefly but may be stabilizing near $2,735.
Volume surged to 34,000 ETH during the early Asia dip, indicating strong activity at local lows.

While price dipped modestly, capital rotation into ETH — both through ETFs and self-custody — suggests traders are using the weakness to reposition for potential upside. Market structure continues to support the view that ETH is primed for a bullish breakout once broader risk sentiment improves.