Ethereum's Negative Net Flows Signal 6-Day Buying Spree

Ethereum's net flows have been predominantly negative over the past week, indicating a growing bullish momentum for the cryptocurrency's price. Net flows, which measure the difference in the number of coins entering or leaving crypto exchanges, provide insights into buying and selling activities and investor sentiment towards the digital asset.

Negative net flows suggest that more coins are leaving exchanges than entering, pointing to higher buying pressure compared to sell-offs. According to data from Coinglass, Ethereum's 24-hour net flow volume stands at -$182.86 million, with more coins moving out of exchanges during this period. This trend has persisted for six out of the last seven days, with net flows totaling -$140 million over this week. This indicates that buying remains the dominant trend, as more ETH are leaving exchanges than entering for selling.

However, looking at a longer timeframe, the 15-day period shows a positive $186.48 million in net flows, indicating that investors are still leaning more towards selling. This could explain why the Ethereum price appears suppressed despite Bitcoin reaching new all-time highs. The 30-day period also shows a similar trend, with net flows rising to $483.54 million as more ETH are moved into exchanges.

If Ethereum's net flows continue to remain negative and even grow, it would signal an increase in buying pressure. Once buyers outbid sellers, the Ethereum price could begin to rally again. According to crypto analyst Captain Faibik, bulls are currently struggling to reclaim the 200-Day Simple Moving Average at $27,000. If they manage to capture this level and break out, the analyst forecasts that the price could rise above $3,500 in the near term.