Ethereum has slipped to roughly $2,680 after spot Ether ETFs recorded $2.81 million in net outflows, ending a seven-session inflow streak. Analyst price levels range from $2,550 to $2,900, while elevated Treasury yields and U.S.-Iran tensions add pressure ahead of Wednesday's inflation data.
Ethereum has dropped toward $2,680, down over both the 24-hour and seven-day periods, as traders await U.S. inflation and jobs data due later this week. Futures open interest stands near $33.63 billion, with 24-hour volume around $46.14 billion.
Ethereum ETF outflows end seven-session streak
U.S. spot Ethereum ETFs posted $2.81 million in net outflows on Sept. 29, ending seven consecutive sessions of net inflows. The previous session had brought in $17.1 million. BlackRock's ETHA led the Sept. 29 outflow at roughly $8.94 million, followed by Fidelity's FETH at around $6.7 million.
Grayscale's Ethereum Mini Trust partly offset the withdrawals with about $12.83 million in net inflows. The reversal follows a strong week for the funds: during Sept. 21-25, spot Ether ETFs took in roughly $689.8 million.
Analyst levels range from $2,550 to $2,900
Ethereum's rally has repeatedly stalled in the $2,750-$2,800 region this month. Crypto analyst Ted said a move above $2,800 could open another leg higher, while a break below $2,550 could trigger a sharper correction. Trader XO identified $2,720 as the nearer level that could reopen the upside, with $2,900 as the next target above that.
The 14-day RSI sits at 62.69, just below its moving average near 64.02, showing momentum still above neutral but cooling from earlier readings. Neither the $2,800 breakout nor the $2,550 downside trigger has been confirmed at current prices.
Treasury yields and Iran talks add pressure
The 10-year Treasury yield reached 5.293% on Tuesday, its highest level since 2007. Expectations for further Fed tightening have eased, however, after New York Fed President John Williams said there was "no need for urgency" following September's rate increase. Traders were assigning around a 47% probability to an October rate increase and about 91% to a December increase ahead of Wednesday's PCE release.
Geopolitical risk also lingers: Iranian Foreign Minister Abbas Araqchi received U.S. feedback on a seven-day trust-building plan through Qatari mediators on Sept. 30, after President Trump had earlier rejected an Iranian proposal. Discussions were continuing over the sequence of possible steps.
For now, ETH remains boxed between last week's swing highs and the $2,550 trigger that would open a deeper pullback.
Source: crypto.news
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