ETH drops 1.83% in 15 minutes: Main capital outflows resonate with market sentiment, triggering short-term selling

On April 29, 2026, from 18:00 to 18:15 (UTC), ETH experienced a rapid decline within 15 minutes, with a return of -1.83%, a price range of 2227.5 to 2285.4 USDT, and an amplitude of 2.54%, indicating a significant increase in market volatility.

The main driver of this abnormal movement was the concentrated outflow of major funds from the spot market. On-chain data shows that during this period, large orders net outflowed approximately -11.68 million USD, retail funds net outflowed about -31.57 million USD, both exceeding the daily average levels. Leading holding addresses showed a clear reduction in positions during the abnormal window, causing short-term selling pressure to accumulate rapidly.

Additionally, technical factors intensified the downward momentum. Technical indicators show ETH in a short-term downtrend, with RSI approaching oversold levels, Bollinger Bands indicating increased volatility, and the price breaking below the lower band, reflecting spreading short-term panic sentiment in the market. Meanwhile, futures market long positions decreased, while short positions slightly increased, suggesting market expectations for short-term price movements are cautious. Although there are no new major negative macroeconomic signals, ongoing concerns about recession and historical reduction behaviors continue to impact investor confidence, with capital outflows remaining the dominant factor.

Current volatility risks still exist; attention should be paid to the support level around $2220 and changes in on-chain fund flows. If major funds continue to exit, selling pressure could further intensify. It is recommended to monitor key support levels and fund flow trends, and remain alert to the risk of further short-term corrections.