Ethereum
Why Ethereum is down 6.1% today
Analysis
Ethereum (ETH) fell 6.1% over the past 24 hours despite a supportive headline on flows, as AMBCrypto reported Ethereum ETFs flipped to about $117M in net inflows—suggesting demand improved but wasn’t enough to offset broader selling pressure in the session. Separately, The Block noted Brock Pierce-backed Bit Digital is winding down its bitcoin mining operations as it pivots toward an Ethereum treasury strategy, a corporate shift that didn’t translate into near-term price support for ETH.
Contributing Factors (2)
Brock Pierce-backed Ethereum treasury firm Bit Digital to fully wind down bitcoin mining operations
Bit Digital entered the bitcoin mining business in 2020 and was an early diversifier into the HPC/AI sector.
Ethereum ETFs flip to $117mln inflows – Will ETH reclaim $3K next?
Institutional demand returned to Ethereum as network costs collapsed, yet momentum lagged.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.