Ethereum bears keep selling but ETH stays near $2,700 as US spot ETFs record $206 million in outflows

Ethereum’s institutional demand is weakening around the same time derivatives positioning shows traders are selling aggressively without yet breaking the broader price structure.US spot ETH exchange-traded funds recorded $50.76 million of net outflows on Oct. 5, extending their losing streak to five consecutive sessions, according to SoSoValue data. The products have shed $205.88 million since Sept. 29, reducing cumulative net inflows to about $13.75 billion.The streak followed a $17.1 million inflow on Sept. 28 and has coincided with ETH trading near $2,711, leaving one of the market’s major sources of incremental demand in retreat.Yet the pressure has not spread uniformly across Ethereum’s investor base.Blockchain analytics firm Santiment said Ethereum’s Age Consumed metric surged to 580 million token-days on Sept. 30, roughly nine times its September weekday average and the highest reading since June 2. The indicator tracks previously dormant coins moving onchain, weighted by how long they had remained untouched.Ethereum Exchange Balance (Source: Santiment)Large spikes can signal that long-term holders are repositioning assets and, in some cases, preparing to sell. Aggregate exc...