Ethereum Price Prediction as ETH ETFs Post Highest Weekly Outflows Since January

Ethereum (ETH) price is down by more than 7% in the seven days leading up to October 10, with this drop coming amid weak demand for spot ETH ETFs that have now seen their worst weekly performance since January.

ETH trades at $2,491 at the time of writing after dropping by 0.39% in 24 hours. Trading volumes had also shrunk by 61% to $7.2 billion, per data from CoinMarketCap.

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ETH ETF Outflows Surge as Institutional Demand Weakens

Data from SoSoValue shows that Ethereum ETFs recorded outflows of $542 million in the week ended October 9. This marks the highest weekly outflows recorded by these ETH ETFs since late January 2026.

BlackRock’s iShares Ethereum Trust contributed to the biggest share of these outflows, with $477 million flowing out of the products, with this being the highest weekly outflow by ETHA since December 2025.

SoSoValue also shows that the total outflows from all US-listed crypto ETFs were the highest seen since June, with Bitcoin (BTC) leading the pack with $681 million in outflows.

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Ethereum’s Exchange Balance Spikes Amid Ongoing Deleveraging

After Ethereum outperformed Bitcoin in Q3 with a 70% gain, investors seem to be booking profits now, which has caused a surge in the amount of ETH that is available on exchanges to the highest level since September 23.

CoinGlass shows that this exchange balance has increased from 11.71 million ETH on October 8 to 11.8 million ETH on October 9. This shows that 90,000 ETH tokens have entered exchanges in just 24 hours.

The increased exchange inflows coincide with reduced demand for Ethereum futures positions. Per CoinGlass, Ethereum’s open interest has dropped from 13.29 million ETH on October 8 to 12.77 million ETH at the time of writing.

The falling OI comes after analysts warned of a deeper correction in Ethereum price after ETH closed below a crucial support level.

Ethereum Prediction as RSI Nears 4-Month Low

Ethereum’s daily chart shows a surging bearish sentiment, with the RSI indicator falling to 39 for the first time since June.

ETH has also dropped below the 50-day SMA, with this move suggesting that the future Ethereum outlook is now favoring bears.

With Ethereum price now trading below the psychological support at $2,500, bears are now eyeing a drop to the 100-day SMA of $2,200.

However, a move to $2,200 depends on whether ETH breaches the immediate support at $2,370.

If Ethereum price can defend this support at $2,370, considering the easing geopolitical tensions and the recent leverage flush, a sustained uptrend will depend on whether ETH can close above the 50-day SMA.