Ethereum ETF Bleeds $242M as ETH Price Struggles At $2,150

|ETH 30-day options delta skew (put-call) at Deribit

Deribit options flows mirrored this posture as traders increased exposure to neutral-to-bearish strategies. Elevated hedging demand often tracks realized weakness rather than anticipates an abrupt collapse.

In this case, derivatives markets appeared to respond to sustained price pressure rather than price in a disorderly breakdown.

Network fundamentals faced their own headwinds. Staking yields sat at 2.9%, trailing the Federal Reserves 3.5% target rate, reducing the appeal of locking capital.

Meanwhile, ETH supply expanded at an annualized 0.8% pace, diluting scarcity arguments in the short term. Lower network fees further compressed validator incentives, weakening long-term holder conviction.

Ethereum (ETH) Price: Structural Strength Offsets Panic Narrative

Total assets under management across Ethereum ETF reached $12.7 billion, placing the recent outflows in perspective. The two-day withdrawal represented less than 2% of that base, limiting systemic risk from institutional redemptions.

Although flows turned negative, aggregate capital committed to Ethereum products remained substantial.

On-chain data still showed Ethereum leading in Total Value Locked across decentralized finance protocols. Builders continued deploying applications on the network, preserving its structural advantage despite market volatility.

This contrast between price weakness and ecosystem depth created tension between short-term traders and long-term participants.

Macro risks dominated near-term direction. Traders monitored corporate earnings and U.S. fiscal refinancing capacity amid global socio-economic strains.

Bond demand reflected caution, and digital assets reacted accordingly. In this environment, Ethereum price responded more to liquidity conditions than to network metrics.

Attention now turns to whether Ethereum can stabilize above immediate support near $2,000. A sustained hold above that level could ease derivatives pressure, while a decisive break may expose lower liquidity pockets.

For now, macro signals and institutional flow trends remain the primary drivers shaping Ethereum price behavior.