Ethereum risks dropping below $2,100 as ETF outflows persist

Ethereum has been struggling to stay above the $ 2,200 level over the past few days and now risks dropping below $2,100. Institutional and retail demand have been declining over the past few days, suggesting that investors lack confidence in Ethereum at the moment. The momentum indicators also paint a neutral picture, with the $2,067 support level likely to come into play soon. Institutional demand continues to decline Ethereum has been underperforming since the start of the week, thanks to declining institutional demand. According to CoinGlass's ETF page, Ethereum exchange-traded funds (ETFs) recorded an outflow of $32.4 million on Thursday, extending their losing streak to nine consecutive days.