Ethereum has fallen back toward $2,500, erasing much of its early-October advance as higher Treasury yields, a strong dollar and weakening institutional flows pressure the crypto market.
ETH traded around $2,500 on Oct. 9, after falling as low as roughly $2,408 during Thursday’s session. That puts Ethereum almost 9% below the $2,700-plus levels reached earlier this week.
Ethereum Is Testing $2,500 Again
The immediate technical picture is considerably less optimistic.
Ethereum fell about 4% on Oct. 8 after dropping another 4.5% the previous day, bringing the market straight back to the $2,500 region.
That level was already identified as vulnerable during the recent ETH selloff, when roughly $165 million in leveraged long positions were liquidated.
A sustained break below $2,500 would put $2,400-$2,450 back in focus. Ethereum traded as low as $2,408 Thursday, showing buyers have already been tested around that area.
ETF Outflows Add to ETH Pressure
Institutional flows have also weakened.
U.S. spot Ethereum ETFs recorded $201.9 million in net outflows on Oct. 6, their largest withdrawal in weeks. The latest ETF outflows contrasted sharply with Bitcoin funds, which attracted $118.8 million during the same session.
That matters because Ethereum’s bullish supply argument increasingly depends on institutional demand absorbing coins while staking and exchange withdrawals reduce liquid supply.
Exchange balances have already fallen to multi-year lows, a trend explored in the recent supply squeeze
