Weekly Ethereum Outlook: Ethereum recovers from a key support level despite macroeconomic challenges:


Institutional demand shows warning signs
Institutional demand for Ethereum remained cautious this week. SoSoValue data shows that Ethereum spot exchange-traded funds (ETFs) experienced outflows of $183.65 million through Thursday. If these outflows continue on Friday, it will end a streak of three consecutive weeks of inflows, potentially putting further downward pressure on Ethereum prices.
Net weekly outflow chart for Ethereum spot ETFs. Source: SoSoValue
On the corporate front, Bitmine Immersion Technologies (BMNR) announced on Monday that total holdings of Bitmine (cryptocurrencies + total cash + "ambitious projects") reached $13.3 billion.
Thomas "Tom" Lee, Chairman of Bitmine, stated: "Bitmine's Ethereum holdings surpassed 5 million last week."
Lee added: "This is a significant milestone as the company moves toward acquiring 5% of the total circulating supply of Ethereum. This accumulation pace is remarkable, taking only 10 months to reach 5 million#X, "
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