Ethereum Price Suppressed as Selling Pressure Mounts

Ethereum price is trading around $2,390, but the chart is starting to look tired. ETH has shed 3%-6% over the past week, and the bounce that carried it above $2,400 last week is losing steam fast. What’s not showing up in the number?

A quieter shift in derivatives positioning that suggests traders are hedging, not accumulating.Spot Ethereum ETFs logged inflows for a 12th consecutive session before turning red yesterday, even as Bitcoin ETFs bled outflows, a gap that would normally read bullish for ETH.

Institutional buyers keep showing up, yet the spot price refuses to follow.

Ethereum ETF Flows, CoinglassA Bybit market note flagged ETH as “consolidating at high levels” while facing “increased downward pressure” from liquidity spillover and leverage unwinds, a dynamic that often precedes a liquidation cascade rather than a clean breakout.Macro conditions aren’t helping.