ETH 15-minute drop of 0.61%: Main capital accelerates outflows and on-chain activity declines in sync, suppressing the market

Between 2026-03-31 09:45 and 2026-03-31 10:00 (UTC), the ETH price traded in a range of 2012.5 to 2030.74 USDT, with a 15-minute candlestick return of -0.61% and an amplitude of 0.90%. Among major coins, performance was relatively weak. Market attention in the short term increased, volatility rose slightly, and sell-side pressure was released noticeably.

The primary driver behind this abnormal move is that institutional funds continued to flow out throughout the day, and the outflow intensified further between 09:45 and 10:00. According to on-chain and exchange data, on March 31, ETH spot saw net outflows of -52.78 million USD for the entire day, institutional funds recorded net outflows of -20.81 million USD that day, and the retail segment also showed a follow-the-leaders withdrawal pattern. The direct withdrawal of institutional funds led to a reduction in buy-side demand, which is the core factor behind the ETH price pulling back in the short term.

In addition, the number of active addresses on-chain fell sharply by more than 45% from the February peak. In the late March period, there was no effective recovery, user participation cooled, and market liquidity was further weakened. During the same period, ETH’s total trading volume was higher than the prior average, while both institutional and retail positions declined, and market sentiment shifted to a wait-and-see stance. Meanwhile, the pace of institutional fund inflows clearly slowed by the end of March; ETF-related buying strength decreased, and there was a lack of new incremental capital. This, together with the institutional withdrawal, amplified the downside momentum. On the technical side, ETH’s near-term support levels failed to hold against multiple rounds of sell pressure, further increasing short-term fragility.

The current liquidity reduction has significantly eased the sell pressure, leading to a noticeable release of selling pressure. However, the risk of continued volatile price movements remains high. In the short term, traders should closely monitor the dynamics of institutional funds, changes in on-chain activity, and any fluctuations related to ETFs. If market outflows do not significantly ease, ETH may face further downward pressure. Investors are advised to keep a close watch on key support zones and large on-chain fund flows, stay alert to more real-time market changes, and beware of sudden accelerated declines.