With an increase in outflow from Exchange-Traded Funds (ETFs) of Ethereum on the stock market, the price of this cryptocurrency dropped to less than $2,000. On March 9, 2025, following a general market downtrend, Ethereum experienced a significant decline. Institutional investors further intensified selling their assets, adding selling pressure and causing a further price drop. On the other hand, the release of the US Non-Farm Payrolls (NFP) report worsened market conditions. Rising unemployment rates and concerns about inflationary pressures made investors more cautious, leading to Ethereum price dropping to $1,998 on Binance exchange; an 8% drop in a day, exceeding Bitcoin’s 4% drop in the same time frame. Recent selling pressure has intensified with increased concerns about Federal Reserve’s monetary policies and the likelihood of interest rate hikes. Investors are now awaiting the release of the Consumer Price Index (CPI) report to determine the market’s next direction. Meanwhile, capital outflow from Ethereum ETFs has peaked. Based on available data, on the day of NFP report release, these funds faced a $23 million capital outflow. The BlackRock ETF saw the highest share of this trend with a $11 million outflow. This data indicates that institutional investors are pulling their capital out of the cryptocurrency market to prevent potential losses. From a technical analysis perspective, Ethereum is at risk of further decline with the formation of a death cross pattern. Technical indicators like Bollinger Bands (BB) and Moving Average Convergence Divergence (MACD) also confirm strong selling pressure. If this trend continues and capital outflow from ETFs doesn’t stop, Ethereum’s price may drop below $1,950 and test the support level at $1,850. However, in case of institutional demand returning, Ethereum’s price could rise back to $2,100 and attempt to break through the $2,200 resistance level. In these conditions, traders should make decisions carefully, considering macroeconomic data and the upcoming CPI report. You can view the live prices of all tokens and cryptocurrencies on the real-time digital currency price page.
