A look at the price of Ethereum as investors pull $36M from ETH products
Bitcoin rallied from a low of $65,000 while Ethereum traded to $1,921. Analysts are bullish on ETH despite the weekly outflow of $36 million from ETH investment products. ETH may revisit $1,500 or rise as macro pressures ease to target $3,000.
Ethereum prices are struggling to break above $2,000 as losses seen over the weekend extend into early US trading hours on Monday.
Bitcoin fell below $65,000, ETH fell to $1,848, and Solana made gains below $80.
The sell-off across crypto has accelerated in recent weeks amid negative sentiment, which has led to massive capital outflows from crypto-related investment products.
Ethereum sees more capital flow
BTC's lower push has fed into top altcoins, and ETH's recent downward move coincides with losses in US equity futures ahead of the Monday February 23, 2026 open.
Risk concerns were highlighted after the US Supreme Court's decision on President Donald Trump's tariffs hit the markets with an initial dovish outlook.
A dump of top coins points to general weakness, and an indicator of this direction is the fifth consecutive week of net outflows from digital asset investment products.
Ethereum hit a weekly outflow of over $36 million last week, bringing its month-to-date outflows to $117 million and year-to-date to $494 million.
That marks a fifth consecutive week of outflows and coincides with ETH struggling to decisively breach the $2k level.
Analysts on ETH price view
ETH's decline below $2k is consistent with institutional selling and macro and geopolitical risks.
According to analysts at QCP, investors have priced in new tariff concerns as well as geopolitical tensions, and ETH has shown similar weakness to BTC.
ETH has seen roughly $500 million in ETF outflows year over year, but rather than worry about it, analysts say the outflows mirror trade winds and are not a “structural exit.”
“Options are still biased to the downside in both $BTC and $ETH, but skew is more extreme, positioning is cleaner and shock hedging has slowed. ETF withdrawals also seem more consistent with trade winds than structural withdrawals.” QCP posted on X.
ETH's short-term price movement may coincide with a whale selloff, with Ethereum founder Vitalik Buterin among those selling ETH recently.
“Big ETH wells are in the water,” says Crypto Rover, and previous instances have historically highlighted the bottom.
Big $ETH whales are in the water. 🐋
Marked down the last 3 times this has happened. pic.twitter.com/FfNZv7QuPK
— Crypto Rover (@cryptorover) February 23, 2026
Despite this, some crypto treasury companies, led by Bitmine, double down on the altcoin, weighing the possibility of them “buying-the-dip”.
Whales who sold earlier, like ShapeShift founder Eric Voorhees, are also buying ETH again.
As such, there is a possibility that the coin may fail to recover and hold above the psychological level, which could expose it to a further decline towards the $1,500 level.
However, Bitcoin's recovery above $74,000 could signal a shift in broader market sentiment. Ethereum will target $2,300-$3,000 as the first supply wall risk areas.
