Ethereum Traders Grow Increasingly Bearish as ETFs Bleed, ETH Sinks Near $2,000
Myriad predictors now favor ETH dropping to $1,500 over rebounding to $3,000 as ETF outflows and price weakness deepen.
Intelligence analysis by GPT-5.4 Mini
Ethereum’s slide toward $2,000 has turned traders more bearish. The article links that shift to nearly $500 million in ETF outflows, even as BitMine keeps buying ETH.
Ethereum is like a popular toy that people trade. Right now, more people think its price may drop than bounce back up, so the mood around it is gloomy.
A big reason is that some investors are pulling money out of Ethereum funds. That is like people taking their chips off the table at a game, which can make others worry too.
Even though one company keeps buying a lot of Ethereum, the crowd still feels nervous. The story says the market is acting like a rainy day, and people are waiting to see if the clouds clear.
Analysis
Bearish shift
Predictors on Myriad are leaning harder toward an Ethereum drop, with the market now favoring a move to $1,500 over a rebound to $3,000. The article says those odds have risen sharply over the last week as ETH keeps sliding.
Price and flows
Ethereum was trading around $2,057, down on the day and more than 10% over the past month. Decrypt says the decline has been accompanied by an 11-day run of net outflows from ETH ETFs, totaling nearly $500 million according to Farside data.
Buying has not stopped the slide
The piece notes that BitMine Immersion Technologies, a major Ethereum treasury firm, is still accumulating ETH aggressively, including about $230 million worth last week and a total stash value above $11 billion. Even so, the article says that buying has not translated into broader demand for the asset.
Broader market mood
Bitwise Head of Research Ryan Rasmussen is quoted saying the market is in the depths of a bear market affecting nearly every crypto asset. He adds that Ethereum still has meaningful roles in stablecoins and tokenized assets, and that it could rerate higher when the broader crypto market turns.
The article also points to prediction markets beyond Myriad: Polymarket gives ETH 51% odds of falling back to $1,500 during 2026, while higher targets like $3,500 and $4,000 carry lower odds. Overall, the framing is that ETH is under pressure now, and traders are not yet convinced the next big move is up.
Key points
- Myriad predictors now favor ETH falling to $1,500 over climbing back to $3,000.
- Ethereum was trading around $2,057 and had fallen more than 10% over the past month.
- ETH ETFs have logged 11 straight days of net outflows, totaling nearly $500 million.
- BitMine keeps buying ETH, but that has not stopped the broader weakness in demand.
- Bitwise’s Ryan Rasmussen says Ethereum can still rerate higher when the crypto bear market eases.
