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Ethereum ETF Outflows Hit Monthly Peak Amid Price Drop
Spot Ethereum ETFs experienced their largest monthly outflow as the ETH price dropped below $2,400. On Friday alone, these ETFs recorded an outflow exceeding $11 million, marking the highest outflow since mid-May. Despite this, the ETFs accumulated approximately $840 million in net inflows throughout June.
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AI Analysis
The recent outflow from spot Ethereum ETFs suggests a shift in investor sentiment likely triggered by the decline in ETH prices below key support levels around $2,400. This price movement may have ins...
AI Recommendation
Investors should consider maintaining a cautious stance in the short term given the recent surge in ETF outflows coinciding with ETH price drops. It could be prudent to wait for stabilization in ETH p...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.
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