{"id":547848,"date":"2025-11-21T14:30:54","date_gmt":"2025-11-21T09:00:54","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=547848"},"modified":"2025-11-21T11:20:31","modified_gmt":"2025-11-21T05:50:31","slug":"sharplinks-move-puts-pressure-on-ethereum-as-it-drops-below-3k-details","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/sharplinks-move-puts-pressure-on-ethereum-as-it-drops-below-3k-details\/","title":{"rendered":"SharpLink’s move puts pressure on Ethereum as it drops below $3K – Details"},"content":{"rendered":"

Key Takeaways<\/h2>\n

Who’s behind the latest dumping spree?<\/h3>\n

SharpLink, the first publicly listed company with Ethereum as its primary asset.<\/em><\/p>\n

What’s the status of Spot ETFs right now?<\/h3>\n

U.S. Ethereum Spot ETFs recorded a total of $1.022 billion in outflows over the last seven trading sessions.<\/span><\/em><\/p>\n

\n

Ethereum (ETH) is facing mounting sell pressure, with the likes of SharpLink continuing to offload their holdings. This, on the back of persistent outflows from U.S Ethereum Spot ETFs and rising exchanges’ reserves. In November alone, ETH has shed over 20% of its value already. It may be set to extend its losses in the coming days.<\/span><\/p>\n

According to Onchain Lens<\/a>, SharpLink, the first publicly listed company with Ethereum as its primary asset, has dumped 10,975 ETH, worth $33.54 million, on the Galaxy Digital OTC exchange.<\/span><\/p>\n

Following SharpLink\u2019s deposit, Ethereum\u2019s structure weakened on the charts, as reflected by ETF outflows and rising ETH reserves on exchanges.<\/span><\/p>\n

On-chain metric flashes bearish signal<\/h2>\n

According to on-chain analytics platform SoSoValue, U.S Ethereum Spot ETFs have recorded outflows for seven consecutive days.<\/span><\/p>\n

Data also revealed that total outflows during this period hit $1.022 billion, indicating that American investors may be pulling capital from these funds. This could allude to waning interest, while reinforcing a bearish outlook.<\/span><\/p>\n

\"U.S.<\/a>
Source: SoSoValue<\/figcaption><\/figure>\n

That’s not all though as crypto participants also seem to be dumping their ETH holdings. In fact, data from CryptoQuant revealed that over the past week, Ethereum<\/a> reserves across all exchanges rose significantly – A sign of ongoing selling by investors and long-term holders.<\/span><\/p>\n

According to the data, they have dumped 152,426 ETH in the past week alone. On the price charts, the impact of this selling is clearly evident too, with ETH falling below $2,900 on the charts.\u00a0<\/span><\/p>\n

\"Ethereum:<\/a>
Source: CryptoQuant<\/figcaption><\/figure>\n

Some traders and investors have shown strong interest in the asset, with the same reflected by the 22% hike in trading volume to $38.55 billion.<\/span><\/p>\n

An uptick in trading volume while the asset\u2019s price is falling means that market participants may be reinforcing its bearish direction.<\/span><\/p>\n

Ethereum (ETH) price action and technical analysis<\/h2>\n

According to AMBCrypto’s analysis, Ethereum is now on a downtrend. Following the breakdown of its key support level, a further downside is possible. In fact, it could fall to as low as the $2,750-level. <\/span><\/p>\n

However, this bearish outlook would only be confirmed if ETH continues to trade below $3,000 on the charts.<\/span><\/p>\n

That might be likely though. Especially since at press time, ETH’s Average Directional Index (ADX) stood at 43.60 \u2014 above the key threshold of 25 \u2014 indicating strong directional momentum.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s not been a good month for Ethereum so far. <\/p>\n","protected":false},"author":97,"featured_media":547856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,32,66,3,4,20],"tags":[],"class_list":["post-547848","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-ethereum-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nSharpLink's move puts pressure on Ethereum as it drops below $3K - Details<\/title>\n<meta name=\"description\" content=\"Ethereum is facing selling pressure after SharpLink offloaded $33.5M in ETH, while ETF outflows and rising exchange reserves...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/sharplinks-move-puts-pressure-on-ethereum-as-it-drops-below-3k-details\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SharpLink's move puts pressure on Ethereum as it drops below $3K - 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