ETH short-term 15-minute rally of 0.40%: ETF funds end six days of net outflows, boosting institutional buying

During the period from 09:45 to 10:00 (UTC) on April 29, 2026, the ETH price saw a +0.40% return fluctuation. The price rose from 2,330.11 USDT to 2,346.4 USDT, with a range of 0.70%. The short-term fluctuation amplitude was higher than the averages of both the preceding and subsequent periods, and market attention noticeably warmed up.

The main driver behind this fluctuation was that ETF capital flows turned positive. After six consecutive days of net outflows, ETH ETFs recorded net inflows of approximately $12.5 million around April 29, reflecting a rebound in institutional investors’ risk appetite. ETF buying pressure was transmitted to the spot market, directly pushing the price higher in the short term.

At the same time, an increase in on-chain activity and signals from the derivatives market formed a convergence. On-chain transaction volume had already shown signs of expansion. As market liquidity strengthened, competition between buyers and sellers intensified, further amplifying the space for price volatility. In the derivatives market, the ETH funding rate remained in a positive +0.56% range, indicating that bullish sentiment held the upper hand. Combined with a recent decline in liquidation volume, passive sell pressure eased, and the driving effect of active buy orders on price became even more significant. In addition, increased activity between major wallets and contracts may reflect large-capital rebalancing behavior, providing extra support for short-term prices.

In the short term, investors should focus on the sustainability of ETF inflows. If the net inflow trend breaks, the price may face downward correction pressure. At the same time, investors should also be wary of potential forced liquidation risks arising from leverage build-up, as well as pullbacks caused by major funds quickly withdrawing after short-term arbitrage. Investors should closely monitor the support performance near $2,340 and the flow of large on-chain funds, and remain cautious.