Crypto News
Spot Ethereum ETFs recorded a $75.9 million net outflow on April 23, abruptly ending a 10-day consecutive inflow streak. The reversal was a $172.3 million single-day swing against the prior session's $96.4 million in net inflows. Ether slipped to roughly $2,300 in Asia trade the following day, opening at $2,375 before sliding under the $2,400 uptrend level bulls were trying to defend. 24-hour volume dropped about 8% to $17 billion, and the Fear & Greed Index sits at 39 (Fear) — well off last month's extreme-fear lows. RSI reads around 58, technically neutral.
Why it matters
The streak ended at the worst possible technical junction: $2,500, the level Binance analysts have flagged as the real resistance gate. Below that, the chart opens toward $2,200; above it, the next meaningful zones sit at $2,800 and $3,000. An $8.6 billion BTC and ETH options expiry landing on April 24 adds a near-term volatility wildcard into settlement, and Bitcoin dominance at 60% puts the ETH/BTC rotation trade back in focus. Spot Bitcoin ETFs, by contrast, pulled $223 million the same day, extending their own inflow streak to eight sessions, and Strategy disclosed a $2.54 billion BTC purchase as additional tailwind on the BTC side of the ledger.
Market impact
Ten straight days of inflows had been the structural argument for an ETH catch-up trade; losing it on a single $75.9M outflow doesn't erase that bid, but it does reset positioning into today's expiry print. The relative-strength read is straightforward: capital rotated into BTC (8-day inflow streak, $223M day, MSTR adding $2.54B) while ETH stalled at resistance and gave back a full session of cumulative flow. Whether the $2,400 reclaim holds into expiry — and whether the options settlement prints a clean directional move — will set the tape for the rest of the week. A failed retest of $2,500 keeps the path to $2,200 live; a clean break with volume revives the $2,800–$3,000 thesis.
Frequently asked questions
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What happened to Ethereum ETF flows on April 23?
Spot Ethereum ETFs recorded a $75.9 million net outflow on April 23, snapping a 10-day consecutive inflow streak. The reversal was a $172.3 million single-day swing against the prior session's $96.4 million in net inflows.
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How low did Ethereum price drop on the news?
ETH opened at $2,375 on April 24 and slid to roughly $2,310 by late morning, slipping under the $2,400 uptrend level. 24-hour volume dropped about 8% to $17 billion.
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What level does Ethereum need to reclaim to stay bullish?
Binance analysts have flagged $2,500 as the critical resistance zone. A clean break above it with recovering volume would put the $2,800–$3,000 zone back in play; failure opens the path to $2,200.
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How did Bitcoin ETFs compare on the same day?
Spot Bitcoin ETFs pulled $223 million in net inflows on April 23, extending their own streak to eight consecutive sessions. Strategy also disclosed a $2.54 billion BTC purchase the same day.
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Why does the April 24 options expiry matter for ETH?
An $8.6 billion combined BTC and ETH options expiry lands on April 24, which can drive a sharp two-way move into the settlement print. With BTC dominance at 60% and ETH/BTC rotation back in focus, the expiry sets the tone for the rest of the week.
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