The news content states that Ethereum (ETH) is facing increasing sell pressure as whales continue to dump ETH and spot Ethereum ETFs report large net outflows. U.S. Ethereum spot ETFs saw $94.3 million in net outflows, with BlackRock leading the outflows. ETH has dropped 5% in the last 24 hours and there have been significant liquidations totaling $127.93 million. Ethereum's total value locked has fallen to $51.5 billion, the lowest level since November 2024. Whales are selling off ETH and panic-selling is evident. The sell-off is happening amidst greater market turmoil and the recent Bybit hack. Despite some positive developments expected for Ethereum, such as the potential approval of Ethereum ETFs and the upcoming Pectra upgrade, selling pressure continues to outweigh bullish expectations.



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