Ethereum ETFs see $542 million in weekly outflows as price drops below $2,500

Ethereum faced renewed pressure as its price dropped below the 50-day simple moving average, trading near $2,491 on October 10. Over the past seven days, Ether lost more than 7% in value and saw trading volumes fall sharply to $7.2 billion, down 61% from previous levels. U.S. spot Ethereum exchange-traded funds (ETFs) experienced net outflows totaling $542 million for the week ended October 9, according to SoSoValue data. This marked the largest weekly withdrawal since January.

Source: CoinTurk News