Ethereum reclaims $2,300 as $1.61B ETF outflows weigh on recovery

Key takeaways Ethereum (ETH) has reclaimed $2,300 after falling below its realized price of $2,309 following the $6.3 billion Binance hack. US spot Ethereum ETFs recorded their seventh consecutive trading day of outflows on Tuesday. ETH faces immediate support at $2,250, followed by $2,204 and $2,107, while a recovery above $ 2,309–$ 2,355 could improve the short-term outlook. Ethereum (ETH) has reclaimed the $2,300 level on Wednesday after adding more than 2% to its value in the last 24 hours. The second-largest cryptocurrency has failed to reclaim its realized price of $2,309, a closely watched on-chain level representing the average acquisition cost of ETH based on its last movement across the blockchain.

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