Ethereum ETFs See Biggest Outflow in 3 Weeks as Demand Stays Under Pressure

Market Trends and Analysis## The US spot Ethereum exchange-traded funds (ETFs) saw a $201.9 million outflow on October 6, marking their sixth straight day of withdrawals, while Bitcoin funds took in $118.9 million. The Ethereum price held steady initially but has since declined, with ETH losing 2.90% over 24 hours. ## Demand Indicators## Demand indicators show little sign of a rebound, and market sentiment has weakened, with bearish social media posts outnumbering bullish ones. CryptoQuant's Coinbase Premium Index has stayed below zero since early September, and the validator exit queue now stands at 837,187 ETH. ## Technical Analysis## Ethereum's key technical levels may come under focus, and analysts warn of a potential pullback before the latest decline. The token gained 0.33% between September 29 and October 6 on Binance, but the price came under pressure on Wednesday. ETH dropped to an intraday low at $2,591.71 on Binance. At press time, the altcoin traded at $2,617.76, down 2.90% over 24 hours. ## Supply and Demand## Supply data looks less bearish than the demand picture. CryptoQuant shows 14.7 million ETH on exchanges, down from roughly 21 million in mid-2025. Fewer coins on exchanges leave less ETH available to sell. However, the demand picture remains the bigger concern. October 7 ETF data will reveal whether Ethereum's outflow streak extends to a seventh consecutive session. ## Conclusion## The deteriorating demand picture could put greater focus on Ethereum's key technical levels, and analysts warn of a potential pullback before the latest decline. The Ethereum price may find a floor at some point, but for now, the focus is on the next big move.