ETH Flows Split: BlackRock Sells Seven Days Straight as Bitmine Adds 27K ETH Near $1,577
ETH sits near $1,577, one quarter from an unprecedented 3-quarter losing streak, as BlackRock offloads to Coinbase Prime while Bitmine keeps buying.
Ethereum is priced around $1,577 and struggling to reclaim $1,600, a level that has become the market’s line in the sand heading into quarter-end. CoinGlass quarterly return data shows ETH closed Q4 2025 negative and has stayed red through Q1 and Q2 2026 — a Q3 close in the same direction would mark the first three-quarter losing streak in the asset’s history.
Two large books, opposite flows
On-chain data from Arkham Intelligence shows BlackRock has been shifting additional BTC and ETH to Coinbase Prime and has sold ETH for seven consecutive trading days, with its last recorded ETH purchase dated roughly two weeks prior. That sustained outflow is adding measurable supply pressure at a moment when spot is already failing to hold above $1,600.
Running against that flow, Tom Lee’s Bitmine has added 27,084 ETH — worth approximately $42.5 million — over the same window, lifting its total holdings to 5.7 million ETH. That stake now represents roughly 4.72% of Ethereum’s circulating supply, effectively offsetting a portion of BlackRock’s sell pressure in the order book and keeping price action from turning purely one-directional.
RSI weak, CMF ticking positive
TradingView data shows the Relative Strength Index reading weak, signaling buyers haven’t reclaimed near-term momentum after the latest drawdown. Chaikin Money Flow, however, has turned slightly positive — a divergence suggesting capital is still entering the market even as spot price stays pinned below resistance.
That RSI/CMF split is the key technical tension for anyone modeling a Q3 reversal: soft momentum but persistent inflow. Historically, ETH has corrected sharply but recovered within one to two quarters; a third consecutive red quarter would break that pattern and could force a reset in how positioning models price Ethereum’s drawdown risk relative to Bitcoin.
The level that matters
For traders, $1,600 is the technical trigger — reclaiming and holding above it would be the first concrete sign that buyers are stepping back in before quarter-close. Until that happens, the quarterly return chart, not any single wallet’s flow, remains the dominant signal shaping sentiment on Ethereum’s next move.
Read more: ETH Funding Flips Negative at $1,500 as Staking Inflows Defy Bearish Bets
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