The post Ethereum Eyes Breakout—but Exchange Inflows Spark Caution appeared on BitcoinEthereumNews.com.

Exchange inflows remain high while weak job data and political noise drag on crypto sentiment. Ethereum eyes $2,800 resistance, but price volatility and bearish derivatives outlook keep traders cautious. Ethereum traded just under $2,500 on June 7 after a sharp sell-off. The drop followed a surge in exchange inflows—117,000 ETH moved to trading platforms, the second-largest total since April 24. That shift signaled growing selling pressure as traders reacted to broader market unease. A political clash between Donald Trump and Elon Musk over a proposed “big beautiful bill” seemed to act as a catalyst. The price had already dropped 7% on June 5, and within two days, profit-taking exceeded $600 million. Most of the ETH sold came from wallets that had held the tokens between 90 days and two years, suggesting that mid-term holders decided to cash out. Exchange inflows continued to outweigh outflows, reinforcing bearish momentum. Analysts from Crypto Finance noted increased hedging activity. Risk reversals—a measure of sentiment in the options market—flipped deeply negative. The 10-day risk reversal fell from +8.82 to -7.27, while the 25-day reading dropped from +2.59 to -2.95, showing traders are paying more to protect against further downside. Crypto Confidence Falls Amid Weak Jobs, Bond Market Shift The recent U.S. job report has created more hesitation in financial markets. Only 139,000 new jobs were added in May, and the unemployment rate remained at 4.2%. At the same time, the 10-year Treasury yield climbed above 4.5%, showing bond investors are still concerned about inflation and interest rate pressures. ZeroHedge analysts drew attention to a large gap between the two employment surveys. The commonly cited payroll figure from the establishment survey showed modest growth. But the household survey, which some view as more reflective of actual employment conditions, showed a loss of 696,000 jobs. The total…

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Filed under: News - @ June 8, 2025 11:19 am