Source of the original article: Cryptographic Ah Yao

While the price of an Ethereum spot ETF closed higher, it also experienced continuous capital outflows, reflecting a return in short-term profits.

• Ethereum ETF outflows surpassed $20 million.

• ETH has taken back much of the previous trading day's gains.

Recent data shows that the Ethereum ETF experienced negative traffic on the last trading day, which is the second day in a row that there have been outflows.

This was the case even though the price of Ethereum [ETH] closed higher and ended the trading session with an increase.

Continued outflows of Ethereum ETFs

According to Sosovalue data, the Ethereum ETF saw another outflow of funds on September 12th. Although ETH closed higher on the previous trading day, this marks the continuation of this trend.

Furthermore, the analysis showed that with the exception of Grayscale, all US ETFs had zero net flow, and Grayscale's net flow was $20.14 million. At the time of writing, the overall net asset value is approximately $6.45 billion.

Even if the price of Ethereum shows a positive trend, an ETF outflow may indicate that investors have made a profit or reallocated their funds.

This model suggests that despite possible short-term repositioning by institutional investors, demand for Ethereum from retail investors and direct markets remains strong, keeping the price stable or growing despite ETF outflows.

ETH is caught between profit and loss

AMBCrypto's analysis of the Ethereum daily price chart shows that ETH rose nearly 1% at the close of the previous trading day, and the price closed at around $2,361.

However, the king of altcoins has lost most of its gains as of writing, trading at around $2,350 at press time, down 0.45%.

Further analysis shows that the price of ETH has been sluggish, and like the trend of Ethereum ETF liquidity, it is difficult to climb to the $2,500 price level.

The short-term moving average (yellow line) has become a key resistance level near this price area, and ETH has never been able to break through this resistance level.

The resistance level around $2,500 has been strong, which is a major obstacle to the price movement of Ethereum.

Holders continue to increase their holdings

An analysis of the Ethereum Holders' Chart shows that despite the recent outflow trend of Ethereum ETFs, the number of ETH holders continues to grow.

At the time of writing, the number of holders had surpassed 0.127 billion, showing a continuing upward trend.

This indicates that the number of addresses with non-zero balances is increasing, indicating that more addresses are actively buying ETH.

The increase in the number of holders is seen as a positive trend, especially given the current sluggish price action and the resistance of Ethereum around $2,500.