Ethereum is testing the $2,500-$2,600 support zone as market participants weigh the implications of recent ETF outflows and on-chain bid activity. On January 30, 2026, Ethereum ETFs posted $113 million in outflows, bringing weekly outflows to $58.4 million. ETF-related pressures are mounting as institutional investors retreat, underscoring the downside risk around the key price level.
CryptoQuant data show that spot taker buy dominance rose sharply as ETH fell below $3,000 and briefly touched $2,800, signaling persistent bid pressure even as prices slide. The movement above the last Taker Buy Dominant reading from June 2025 suggests that buyers may not be out of the market yet, though the path forward remains uncertain. If buyers sustain momentum, a rebound appears possible; however, without broader inflows, the risk of a deeper decline remains salient. The near-term fate of Ethereum hinges on whether the $2,500–$2,600 zone can hold, especially in the face of potential macro headwinds such as a U.S. government shutdown and ongoing outflows.
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