Weekly Ethereum Outlook: Ethereum rebounds from a key support level despite macroeconomic headwinds:



Institutional demand shows warning signs
Institutional demand for Ethereum remained cautious this week. SoSoValue data shows that Ethereum spot exchange-traded funds (ETFs) recorded net outflows of $183.65 million as of Thursday. If these net outflows continue on Friday, it will end a streak of three consecutive weeks of inflows, which could lead to further downward pressure on Ethereum prices.

Weekly net outflow chart for spot Ethereum ETFs. Source: SoSoValue

As for the corporate front, Bitmine Immersion Technologies (BMNR) announced on Monday that Bitmine’s total holdings (cryptocurrencies + total cash + "ambitious projects") reached $13.3 billion.

Thomas “Tom” Lee, Chairman of Bitmine, said: “Bitmine’s Ethereum holdings surpassed 5 million over the past week.”

Lee added: “This is an important milestone as the company moves toward acquiring 5% of the total supply of Ethereum. This accumulation pace is astonishing—it took only 10 months to reach 5 million.”
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