Ethereum traded near $2,562 on October 7, down about 5.5% over the previous 24 hours, as U.S. spot Ether ETFs stretched a run of daily redemptions to six consecutive sessions. The latest leg lower came after BlackRock’s iShares Ethereum Trust (ETHA) accounted for the entire $202 million in net outflows on October 6, according to live Ethereum market data and SoSoValue fund-flow figures, while Bitcoin funds drew $119 million over the same session.
The gap between the two largest crypto assets’ fund flows has become the clearest driver of Ethereum’s recent price action, with ETH underperforming bitcoin as institutional money favors the leading asset. Ether is down roughly 5.5% while bitcoin has slipped about 3.2% to near $83,371, and several altcoins have fallen harder.
Why Ether Is Falling
U.S. spot Ether ETFs posted $202 million in net outflows on October 6, and a single redemption of $201.89 million from BlackRock’s ETHA made up essentially the whole figure. The withdrawal marked the sixth straight day of outflows from the sector, extending a stretch that has kept consistent selling pressure on the asset’s exchange-traded wrapper.
Spot Bitcoin ETFs moved the other way, drawing $119 million in net inflows led by BlackRock’s IBIT at $122 million. The split suggests the current pressure is more acute in ether than in bitcoin, even though both assets are lower in a broader risk-off session that has pushed major altcoins such as Cardano and Dogecoin down by roughly 7% to 8%.
A wider risk-off tone is compounding the pressure. Bitcoin has held up better than the rest of the market at about 3% lower, while altcoins have borne the brunt of the selling, with Cardano down near 8% and Dogecoin off roughly 7% over the same stretch. That breadth points to a liquidity-driven pullback rather than an ether-specific event, with the ETF redemptions acting as the sharpest ether-specific signal within it.
Ethereum Levels to Watch
ETH gave up the $2,600 handle after trading near $2,712 as recently as October 5. That round level now sits as overhead, and the move below it leaves the asset testing a lower part of the range it has occupied over the past week rather than breaking sharply into new lows.
These levels are reference points drawn from recent trading, not forecasts. A recovery back above $2,600 would require a turn in the fund-flow trend, while continued daily redemptions would keep pressure on the $2,500 area that marks the lower end of the recent range.
What Happens Next
The most direct signal to watch is the next daily ETF flow print, which typically updates on U.S. trading days. If Ether ETF outflows persist, the sixth-day streak would extend and weigh further on sentiment; if flows turn positive, ether would have a clearer path to reclaim lost ground against bitcoin.
The path back above $2,600 runs through the fund-flow data. A single day of positive Ether ETF flows, especially if ETHA flips to inflows, would break the six-session streak and hand ether a concrete catalyst to retake the level. A continued slide would instead test how much of the recent range’s lower end holds under repeated redemption pressure.
It is worth keeping the reading in context: fund-flow data reflects one cohort’s positioning and does not by itself prove that spot holders are selling. The available evidence shows persistent ETF redemptions coinciding with a softer price, but it does not establish the outflows as the sole cause of the decline in the broader crypto market.
Ethereum Price FAQ
Why is Ethereum down today?
Ether is lower as U.S. spot Ether ETFs logged a sixth straight day of net outflows, including a $202 million redemption on October 6 led entirely by BlackRock’s ETHA, while Bitcoin funds drew inflows.
How much did Ether ETFs lose?
U.S. spot Ether ETFs saw about $202 million in net outflows on October 6, with BlackRock’s ETHA responsible for $201.89 million of the total, according to SoSoValue data.
Is Ethereum below $2,600?
Yes. Ethereum traded near $2,562 on October 7, below the $2,600 level it held earlier in the week, after declining roughly 5.5% in 24 hours.
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