Ethereum Dips as ETF Outflows Rise, Bitmine Steps In to Buy

Key Highlights:

• Ethereum’s token (ETH) price is down by 2% today, December 23, 2025.
• ETH ETF data shows that institutions are pulling back.
• Bitmine took advantage of the situation and bought the dip.

Ethereum (ETH) slipped by about 2% today in the last 24 hours as per CoinMarketCap and is currently hovering around $2,980 and did slightly worse than the overall crypto market. The drop is mainly because big investors seem to be pulling out money from the ETH ETF, worries around a huge $27 billion options contract deadline, and some weak price signals on charts.

On the positive side, it has been observed that Bitmine has been buying ETH and making the most of the price dip. This accumulation also signals that some players still see value and believe in the ability of the coin at these levels.

At press time, the price of the token stands at $2,970.51 with a dip of 2.1% in the last 24 hours as per CoinMarketCap.

Institutional Exodus Hits ETFs

As per Coinshares, US spot Ethereum ETFs saw a $555 million worth of money being pulled out this week, and this is the biggest outflow since August 2025. BlackRock’s ETHA fund led these withdrawals, undoing some of the recent gains that came after ETF approvals.

This shows that large investors are becoming more and more cautious. Delays in US crypto rules, which includes the Clarity Act, and profit taking after ETH rose almost 5.5% in the past month are the main reasons behind the current pullback.

It has been observed that when money keeps leaving ETFs, Ethereum loses an important source of support. Institutional buying is something that has helped the token price stay afloat and steady.

So, a weaker interest here suggests that there is a broader nervousness in the crypto market, which is driven by economic pressures and unclear regulations.

Derivatives Overhang Looms Large

According to Deribit, about $27 billion worth of Bitcoin and Ethereum options are set to expire on December 26, with Ethereum’s key price level being around $2,900.

Right before the expiry, big traders are actively hedging their positions, which keeps prices stuck in a tight range and reduces sharp moves. Even though trading volume jumped over 31% to $18.8 billion in a day, most of $222 million in liquidations hit bullish trades, showing caution in the market.

As of now, traders are avoiding big bets. After December 26, if the price of the ETH token goes above $3,150, then the short sellers may be forced to buy back, which could make the prices of the token even higher. However, if at all, the price of the token dips below $2,980 mark, then there is a high possibility of more selling as stop-loss orders will be triggered.

Technical Breakdown Signals Weakness

The selling pressure is rising as ETH failed to move past the $3,080 mark. The token as of now is trading below its recent average price of around $3,028.

Momentum indicators also point lower, meaning the downtrend is strengthening. For now, ETH has slipped below the $2,975 support level, this raises risk of a deeper decline.

Bitmine Buys the Dip

However, during this time, Bitmine accumulated about 4 million ETH tokens and its crypto treasury hit $13.2B. This signals that the institution plans to build a much longer position over the time.

As most of the institutions take a step back, Bitmine is doing the exact opposite and is betting on a long-term recovery and is buying while the prices are lower.

This pattern is not something that is new within the crypto industry. It is very common for institutions to accumulate during the dips. This accumulation also helps in slowing down the price falls.

However, this entire scenario clearly highlights how the market is split. On one end, institutions are being very mindful of where they are investing and on the other, institutions are actually buying the dip.

Also Read: Ethereum Finds Stability Above $2,700 Amid Macro Relief and Network Growth