Ethereum News: ETH Climbs Above $3K But ETF Outflows Mount

Key TakeawaysEthereum price trades above $3,000 psychological levelLast week’s ETH ETF outflows hit $555 millionSelling pressure persists near $3,161–$3,450 resistanceEthereum price regained the $3,000 level this week, but rising ETF outflows and slowing network activity are tempering confidence. While price action suggests short-term bullish momentum, broader indicators point to mixed sentiment across the crypto market. Ethereum Rallies Above $3K Amid Mixed SignalsEther is currently trading at $3,063.96, holding above the key $3,000 psychological support. The move reflects short-term strength after recent consolidation, with several short-term moving averages flashing buy signals.Source: TradingViewThe 10-day EMA ($3,002.5) and 20-day EMA ($3,030.7) indicate near-term support. However, price remains below the 50-day SMA ($3,161), highlighting strong overhead selling pressure. ETF Outflows Raise Near-Term ConcernsDespite the price rebound, Ethereum ETF outflows continue to weigh on sentiment. U.S.-listed ETH ETFs recorded $555 million in outflows last week, leading total crypto ETF withdrawals of $952 million.The outflows come amid U.S. regulatory delays, including the stalled Clarity Act, and rising risk aversion across global markets.  Institutional Interest Stays ResilientHowever, long-term institutional interest remains intact despite ETF weakness. Bitmine announced in a press release that it currently holds 4,066,062 ETH, having added 98,852 ETH in the past week. The company also announced that its crypto holdings—comprising of its ETH holdings, 193 BTC, a $32 million stake in Eightco Holdings (NASDAQ: ORBS) and total cash of $1.0 billion—now total $13.2 billion. Bitmine's ETH holdings are now 3.37% of the total ETH supply. ETH Outlook: Key Levels To WatchAnalysts note strong resistance between the 50-day SMA ($3,161) and $3,450. A rejection from this zone could send ETH back toward the $2,700–$2,623 support range.A breakdown below that area may expose $2,250. Conversely, a clean breakout above $3,450 would invalidate the bearish setup and open a path toward $3,918.