The U.S. spot ETH ETFs recorded $14.59 million in daily net outflows on August 10th, breaking a four-day streak of consecutive outflows. Weekly Exchange Netflow has continued rising in August, indicating increased selling pressure, which coincided with ETH’s 3% drop from $1920 to $1875. The market is split 50/50 on the Federal Reserve’s next rate decision, making the CPI data on August 12th a crucial catalyst for market sentiment. Ethereum is currently trading within the $1800-$1960 range, with potential downside targets at $1700 if inflation data disappoints, and a possible recovery toward $2000 if inflation cools.
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