Although a record 19-day inflow streak recently ended for spot Ether ETFs, Ether is currently trading below its price at the start of the run.

Spot Ether ETFs post outflow day after record 19-day inflow streak

The NFT market has experienced a strong rally, with sales volume jumping by 
37.10% to $144.8 million. According to data from CryptoSlam, this marks the 
biggest weekly gain in recent months for the sector. The spike coincides with 
Bitcoin&#8217;s (BTC)…

NFT sales pump 37% to $144.8m, Immutable dethrones Ethereum

Over the past three days, the crypto market has taken a hit, shedding $210 
billion in value since June 11, when tensions first flared between Israel and 
Iran. Meanwhile, over the past week, bitcoin has dipped 0.8% and ethereum is 
down 0.1%, but a handful of altcoins have posted double-digit gains, managing 
to dodge the […]

Crypto Carnage Wipes Out $210B This Week—But Some Coins Refuse to Fold

With investor demand seemingly on the rise, the Ethereum price looked set to 
cross the psychological $3,000 level over the past week. However, this dream 
hit a major stumbling block after geopolitical tensions quickly escalated in 
the late hours of Thursday, June 13. It didn’t take much time for Israel’s 
airstrike against Iran to impact the global financial markets, with crypto 
prices succumbing to a fresh wave of downward pressure. Specifically, 
Ethereum, the second-largest cryptocurrency by market cap, has lost about 6% 
of its value in the past 24 hours. Is Capital Flowing Out Of ETH Into BTC? In 
a Quicktake post on the CryptoQuant platform, on-chain analyst Amr Taha shared 
fresh insights into the wave of volatility that recently hit the 
cryptocurrency market. The crypto pundit noted that Ethereum and Bitcoin were 
particularly impacted by the recent global happenings. Related Reading: A Rare 
Bitcoin Signal Is Flashing: Could the Bull Run Just Be Getting Started? 
Firstly, Taha noted the decline in the Ethereum Open Interest (OI) on Binance, 
the world’s largest cryptocurrency exchange by trading volume. Data from 
CryptoQuant shows that the ETH OI metric experienced a significant 19% dip in 
the past 24 hours, coinciding with a decrease in price. The Open Interest 
indicator estimates the total amount of money flowing into derivatives of a 
specific cryptocurrency at any given time. A falling OI value is often 
considered a bearish signal, as it suggests a decline in investor confidence 
and positive sentiment. According to Taha, this latest abrupt decline in the 
Ethereum Open Interest points to a wave of panic-induced selling, with 
investors instinctively exiting their long positions. “Traders likely rushed 
to close their long positions, either manually in fear of deeper losses or 
automatically via forced liquidations as stop-loss triggers were hit,” the 
analyst said. Taha drew a parallel relationship between the falling Ethereum 
Open Interest and the flow of Bitcoin out of Coinbase, the largest centralized 
exchange in the United States. CryptoQuant data shows a significant withdrawal 
of 7,000 BTC from the trading platform in the past day. According to Taha, 
this substantial exchange outflow of Bitcoin, coinciding precisely with the 
Ethereum OI decline, suggests fresh buying and that large investors may be 
strategically repositioning for accumulation. This trend might not be 
particularly positive for ETH, as it shows that capital might be rotating back 
into the premier cryptocurrency. Ethereum Price At A Glance As of this 
writing, the price of ETH stands at around $2,546, reflecting an almost 4% 
decline in the past 24 hours. Related Reading: Ethereum Faces Stress As 
Israel-Iran Conflict Shakes Sentiment – ETH/BTC Support In Focus Featured 
image from iStock, chart from TradingView

Investors Are Fleeing Ethereum, On‑Chain Numbers Reveal

Bitcoin does not just compete with gold as an alternative store of value, but 
all savings instruments, including government securities.

Bitcoin can absorb $30T US Treasury market — Bitwise CEO

As of June 14, the likelihood of Iran blocking or closing the Strait of Hormuz 
has risen to 47%, nearly doubling from 24% on June 11. Strait of Hormuz 
Closure Threatens Global Trade The odds of Iran blocking or closing the Strait 
of Hormuz, one of the world&#8217;s most critical maritime chokepoints, briefly rose 
to […]