Ethereum Exchange Outflows Hit Four-Month High Amid Heavy Spot ETF Selling

Ethereum traded around $2,377 as record exchange withdrawals contrasted with ongoing institutional liquidations. Centralized exchanges registered a single-day net outflow of 169,770 ETH valued at roughly $407 million, marking a four-month peak. However, U.S. spot Ethereum ETFs logged up to $1.18 billion in net outflows across 14 of 16 sessions through October 22, reducing total net assets to $14.57 billion. Early investors also offloaded 4,000 ETH, while derivative indicators showed persistent seller dominance after ETH breached technical support at $2,385.62.