ETH Rebounds After $3K Visit, ETFs See 5th Day of Outflow: What’s Next?

Core Insights - Ethereum experienced a rebound after briefly dropping to the $3,000 level, currently trading around $3,324 with trading volumes increasing by over 44% [1] - Bitcoin also faced volatility, crashing to $98K before recovering to $102K shortly after [1] - Over the past 24 hours, the crypto market saw liquidations exceeding $1.78 billion, with $1.37 billion in long positions and approximately $410.45 million in short positions [1] Market Stages - Analysts noted that Ethereum has gone through the four classic market stages this year: decline, accumulation, markup, and distribution, with the recent correction indicating a shift in market control favoring sellers [2] - The decline phase was characterized by lower highs and lower lows, influenced by macroeconomic factors such as tariff concerns, with the $3,000 breakdown testing historical support zones [3] - Following the decline, Ethereum entered an accumulation phase between $2,000 and $3,000 for nearly two months as buyers awaited favorable conditions [3] Recent Trends - After the accumulation phase, Ethereum reached new highs in August, but recent weeks have shown signs of distribution, with price compressing between major AVWAP levels and significant sell volume leading to long liquidations [4] - Ethereum ETFs have experienced five consecutive days of outflows, totaling $219 million, while Bitcoin ETFs saw $578 million in net withdrawals, contrasting with Solana ETFs that attracted inflows for six days [5] - The anchored VWAP that previously served as support during the 2022 bear market has again provided a rebound point, suggesting that if Ethereum can maintain above $3,200, a gradual recovery phase may develop [6]