Ethereum News Today: Structural Buyers Accumulate as Prices Fall: Crypto's Uncertain Winter Deepens

Bitcoin and Ethereum face mounting bearish pressure as market participants grapple with deteriorating sentiment and persistent outflows from exchange-traded funds (ETFs). The cryptocurrency market, which had shown resilience in previous cycles, now appears vulnerable to extended declines amid waning institutional confidence and technical breakdowns.

Bitcoin (BTC) traded near $95,000 as of Monday, clinging to key support levels but failing to attract sustained buying interest. The asset's struggles are exacerbated by a 7.58% drop in hash price to $39 per petahash per day, signaling reduced mining profitability and heightened selling pressure. ETF data compounds the gloom: U.S.-listed Bitcoin ETFs recorded $492 million in outflows on Friday, extending a fourth-quarter bearish streak. With cumulative inflows at $58.85 billion and net assets at $125.34 billion, the ETFs' performance has become a critical barometer of investor confidence.

Ethereum (ETH) fared no better. U.S. Ethereum ETFs posted $178 million in outflows on Friday, with the last inflow dating to November 6. The coin's price hovered below $3,200, struggling to reclaim major moving averages like the 200-day EMA at $3,554. XRP, another altcoin benchmark, saw its futures open interest plummet to $3.61 billion, a fraction of its July peak of $10.94 billion, reflecting weak retail demand.

Institutional players are also recalibrating strategies. BitMine Immersion Technologies, a major Ethereum holder, disclosed $11.8 billion in crypto and cash holdings, including 3.6 million ETH tokens. However, the firm's chairman, Thomas Lee, warned of "quantitative tightening" effects from market makers with balance sheet issues, echoing broader liquidity concerns. Meanwhile, Ether treasury firm FG Nexus sold 10,922 ETH ($33 million) to fund a share buyback, illustrating the growing pressure on digital asset treasury companies (DATs) as stock prices trade below net asset value.

Technical indicators reinforce the bearish narrative. Bitcoin's 50-day moving average crossed below its 200-day line-a "death cross"-while the RSI for Ethereum approached oversold territory, suggesting prolonged weakness. Analysts at JPMorgan highlighted the existential risk for Strategy Inc. (MSTR), which could lose inclusion in major indices like MSCI USA and Nasdaq 100, potentially triggering $2.8 billion in outflows.

Despite the bleak outlook, some executives remain cautiously optimistic. Coinbase's D'Agostino framed the selloff as an opportunity for long-term holders, noting that "price-insensitive" investors have absorbed 186,000 BTC since October. Yet, CryptoQuant data reveals a rare divergence: while structural buyers are accumulating, prices continue to fall, creating uncertainty over whether the market will rally or collapse further.

The crypto winter debate intensifies as Bitcoin erases its 2025 gains and altcoins struggle to find buyers. With ETF outflows, technical breakdowns and institutional recalibration converging, the path forward remains fraught with uncertainty.