US spot Ethereum ETFs recorded outflows of $201.9 million on October 6, marking the largest daily withdrawal since mid-September. This event extended a six-day consecutive outflow streak that began on September 29, resulting in a total withdrawal of $407.8 million from these funds.
The recent outflows have offset nearly half of the $850.8 million inflow recorded during the seven-day period immediately preceding the current streak. In contrast, Bitcoin ETFs attracted $118.9 million on October 6 and saw net inflows of $239 million over the same six-day period.
Market pressure extended to other assets, with Zcash and Solana funds reporting outflows of $89 million and $23.2 million, respectively. Ethereum price volatility led to $164.88 million in long position liquidations over 24 hours, with the token trading at $2,617.76 at the time of reporting.
On-chain indicators show a shift in validator behavior, with the exit queue reaching 837,187 ETH, while the entry queue continues to shrink. Despite this, exchange supply remains lower than in mid-2025, with 14.7 million ETH currently held on trading platforms.
Technical analysis suggests potential support levels for Ethereum between $2,547 and $2,565. A breach of this range could lead to a further decline toward $2,190, while resistance remains between $2,760 and $2,800.
