Ethereum Inflows Rise as Bitcoin ETFs See Outflows, But Prices Tell a Different Story

A split has emerged in institutional cryptocurrency flows, with Bitcoin and Ethereum moving in opposite directions.

Through Thursday, US spot Bitcoin ETFs posted four straight sessions of withdrawals totalling roughly $462.7 million. On Thursday alone, Ethereum ETFs pulled in $216.4 million, led by $148.8 million into BlackRock’s ETHA. Is a shift underway?

The central question is whether institutions are pulling back from crypto entirely or just becoming pickier within the asset class. That data was from last week, however. What has happened with prices since then?

Bitcoin remains the dominant institutional crypto and is largely treated as a digital store of value. Ethereum offers a different angle, with links to decentralised finance, stablecoins, tokenisation and other blockchain uses. ETH may also appeal to investors hunting for relative value after a stretch of Bitcoin outperformance.

Still, a single strong day does not prove a lasting rotation. ETF flows can reflect portfolio rebalancing, profit-taking or movements in individual funds.

For traders, the decisive question is whether the divergence persists. Several straight days of Ethereum inflows alongside continued Bitcoin outflows and ETH outperforming BTC would offer firmer evidence that institutional capital is shifting rather than exiting crypto entirely — but is that happening now?

One day is noise. Multiple sessions would signal a more meaningful change.

There are also the technicals. What do the charts say?

The flow data captures only one moment in time. The divergence could reflect profit-taking, portfolio rebalancing or many other factors. The next question is: what are the technicals telling traders?

The price action and key technical levels for Bitcoin and Ethereum will help determine whether the market is confirming what ETF flows might be starting to hint at.

Bitcoin shows some technical life

Bitcoin is trading higher today and is trying to push above an important technical resistance level.

The day’s low reached $76,370, staying above the swing area between $75,668 and $76,279. The failure to drop into and then below that zone gave buyers a chance to press higher.

The price then moved above the falling 100-hour moving average at $77,290. When it dipped back toward that moving average, buyers defended the level and drove Bitcoin toward the 200-hour moving average at $78,151.

Another pullback also found support ahead of the 100-hour moving average, sparking a second rally. The latest leg reached $78,457, with Bitcoin trading near $78,200 as of 10:00 AM ET.

From a technical standpoint, Bitcoin is showing signs of life:

• The decline held above the $75,668 to $76,279 swing area.
• The price climbed above and then based against the 100-hour moving average at $77,290.
• It is now trying to break above the 200-hour moving average at $78,151.

For short-term traders, the 200-hour moving average at $78,151 is the nearest risk-defining level. Holding above it would keep buyers in charge and let them extend the recovery.

More cautious traders may use the 100-hour moving average at $77,290 as their key risk level. Buyers have leant against that moving average twice today, boosting its technical significance. The upside target? Last Friday’s swing high was $79,851. That was near Wednesday’s high. Last week’s Monday high was $80,537. Those are the targets on further upside momentum.

An educational takeaway from the price action and technicals?

A broken resistance level should become support if buyers are truly in control. A sustained move above the 200-hour moving average would reinforce the bullish case. Conversely, a drop back below the 200-hour average would weaken the breakout, while a fall below the 100-hour moving average would be a bigger problem for buyers and tilt the short-term bias back toward sellers.

What about Ethereum?

On Ethereum’s hourly chart, the technical picture shows some divergence from Bitcoin. It also suggests the strong inflow demand seen late last week has not carried over with the same force this week.

Ethereum moved lower into Thursday’s session, hitting a low of $2,402.55. From there, however, the price began to reverse quickly.

The rebound initially took Ethereum toward its converged 100- and 200-hour moving averages near $2,480. Once the price broke above both moving averages on Friday, buyers pushed sharply higher. The momentum continued until Ethereum reached $2,666.35, a gain of roughly 7.75% in just a few hours.

Clearly, funds were flowing into Ethereum.

But since hitting that peak, the price has retraced all the way back to the original breakout area around the 100- and 200-hour moving averages. Ethereum even dipped briefly below both levels over the weekend.

Today, the price has rotated higher again, but the bounce stalled near the bottom of the swing area between $2,531 and $2,567. That area is now the next important resistance target.

Meanwhile, Ethereum is trading above and below its converged moving averages at:

• 100-hour moving average: $2,494.27
• 200-hour moving average: $2,497.30

The current price is around $2,510 as of 10:19 AM ET, just above both moving averages.

From a technical perspective, Ethereum is at a key decision point:

• Staying above the converged moving averages near $2,494–$2,497 would keep buyers in the game.
• Moving above $2,531 would be the next bullish step.
• Breaking through the full swing area up to $2,567 would give buyers greater control and open the door for a stronger recovery.
• Falling back below both moving averages would weaken the bullish bias and put sellers back in control.

The educational point is that a strong breakout is only as good as the market’s ability to hold above the broken levels. Friday’s surge showed strong buying interest, but the near-complete retracement suggests buyers have not yet established lasting control.

With the 100- and 200-hour moving averages converged, the area near $2,494–$2,497 becomes especially important. When two widely followed moving averages cluster together, they can provide a clearer dividing line between buyers and sellers.

What is the bottom line?

The ETF flow data, especially late last week, raised the possibility that institutional money may be rotating from Bitcoin into Ethereum. Bitcoin ETFs lost roughly $462.7 million over four consecutive sessions, while Ethereum ETFs drew in $216.4 million on Thursday alone.

Yet today’s price action does not offer convincing confirmation of that rotation.

Both Bitcoin and Ethereum are trying to build a more bullish technical case. Bitcoin has moved above its 100-hour moving average and is testing its 200-hour moving average. Ethereum is also trading just above its converged 100- and 200-hour moving averages.

Bitcoin, however, is showing slightly stronger momentum. Ethereum gave back nearly all of Friday’s 7.75% surge and has so far been unable to push through the $2,531–$2,567 swing area. If institutional money is truly rotating toward Ethereum, traders would expect ETH to start outperforming Bitcoin and hold above its key technical levels. That is not happening convincingly — at least not yet.

So the flow divergence is worth monitoring, but the price action has not confirmed a meaningful Bitcoin-to-Ethereum rotation. Both cryptocurrencies are trying to give buyers more control today, but both still have resistance levels that need to be broken and held.

The flows may be hinting at a shift, but the technicals are saying: Prove it.