Ethereum (ETH) is holding near $2.5K after 12 straight trading days of spot ETF inflows pushed the total above $1.5B, even as derivatives markets showed unusually heavy selling pressure.
Key Points:
- Ethereum spot ETFs have recorded net inflows every trading day since Aug. 12, bringing the 12-session total above $1.5B.
- Binance's taker buy/sell ratio fell to 0.81, indicating aggressive market-order selling exceeded buying by about 23%.
- The $2.26K-$2.35K realized-price cluster remains the key support area, while $2,530 is the near-term breakout level.
Ethereum ETF Demand
Ethereum spot ETFs have posted net inflows on every trading day since Aug. 12, with 12 sessions bringing in more than $1.5B. Analytics platform Arkham said clients of BlackRock bought more than $1B of ETH without a net-selling day, while the firm's ETHA spot ETF acquired $1.02B over nine days.
That demand has helped keep ETH close to $2.5K despite heavy derivatives selling.
Still, ETF buying has not settled whether Ethereum can break decisively above resistance, because price remains inside a short-term range between $2,383 and $2,530. The June swing high near $2,466 sits inside that range, making the consolidation a possible distribution phase after the recent advance.
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Binance Sell Pressure
Data from CryptoQuant showed the Ethereum taker buy/sell ratio on Binance fell to 0.81, one of the most extreme readings in the metric's history, according to crypto analyst Moreno. Aggressive sell volume was about 23% higher than taker buy volume, yet ETH remained just below $2.5K.
Moreno also pointed to the $2.26K-$2.35K realized-price cluster as the cost basis for the largest wallet cohorts. With market price above that zone, every displayed cohort remained in unrealized profit, though a breakdown below those cost bases would indicate stronger seller control.
A rise in open interest alongside continued aggressive selling would create a much more bearish setup.
For now, defending roughly $2.3K would suggest the market is absorbing supply, while a move above $2,530 would be the first clear sign that buyers are regaining short-term control.
Options positioning points to expectations for an Ethereum rally in September, but the current range still leaves open the risk that recent gains are being distributed. The pause follows the 12-session ETF inflow streak that began Aug. 12 and carried ETH back toward its June swing high, leaving the $2.3K cost-basis area as the main test if momentum fades.
