ETH 15-minute short-term rally of 0.48%: ETF capital net inflow and exchange outflows resonate to drive the price upward

On April 26, 2026, from 23:30 to 23:45 (UTC), ETH yield increased by 0.48%, with a price range of 2358.45-2372.86 USDT and an amplitude of 0.61%. Short-term prices showed significant fluctuations, market attention rapidly intensified, and trading activity markedly increased compared to previous days.

The main driver of this fluctuation was a substantial net inflow of spot ETF funds. On April 24, spot ETH ETF net inflows reached $23.4 million, as institutional investors needed to purchase ETH to support new shares, creating substantial buying pressure that directly pushed prices upward. ETF capital flows serve as a market sentiment indicator; during net inflow periods, prices typically trend upward.

Additionally, continuous outflows of ETH from exchanges led to reduced liquidity, enhancing price elasticity. In March 2026, ETH outflows from exchanges exceeded 31 million tokens, with on-chain data showing ETH flowing out of exchanges into custody and staking, reducing short-term circulating supply and potentially increasing supply shocks, which can amplify price volatility. Moreover, on April 25, active addresses reached 885,491, a 33% increase from the previous day, setting a new on-chain activity high; the Fusaka hard fork lowered Gas fees to about $0.15, and network upgrades improved capital flow efficiency. Multiple factors combined to magnify volatility effects.

Investors should be aware of short-term volatility risks. If subsequent ETF capital flows reverse or exchange liquidity recovers, prices may experience a correction. Key indicators to monitor include ETF capital flows, on-chain capital movements, and support levels near 2370 USDT.