Ethereum outflows amid potential US government sale of seized ETH could crush positive July projections

Ethereum (ETH) is up more than 2% on Monday despite increased outflows across global ETH ETF products and exchange deposits from key whale wallets.

Global Ethereum ETF outflows threaten expectations of successful spot ETH ETF launch. ICO whale and US government hint at ETH sale after recent transfers. Ethereum 's historical July returns could attract bulls as spot ETH ETF launch draws closer. Ethereum is up more than 2% on Monday despite increased outflows across global ETH ETF products and exchange deposits from key whale wallets.

Ethereum's positive start to the month aligns with its average July returns since its launch. Coinglass data shows Ethereum has an average return of 6.28% in the month. In the past four years, the number one altcoin has only ended July on a loss in 2023. ETH/USDT 4-hour chart In addition, Ethereum looks poised for growth as spot ETH ETFs may launch in the coming days. As a result, ETH could test the $3,629 resistance, which it had failed to sustain a move above in the past three weeks.

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