ETF Day 26 reversal: Wednesday June 10 NFT briefing
Tuesday's ETH ETF Day 26 print came in at −$40.9M, reversing 49.6% of Monday's record inflow in a single session — Grayscale (ETHE + ETH mini) drove 79.2% of the outflow, and every issuer that led Monday went silent. ETH closed June 9 at $1,638.31 (−3.05%), with $1,700 confirmed as resistance and $1,600 now under live test intraday Wednesday. Across the five blue-chip collections: BAYC floor held at 9.08 ETH with MachiBigBrother returning after 6 sessions and a same-session flip absorbed at 9.75 ETH; CryptoPunks entered day 4 of the 0.00 ETH surface volume anomaly with #4986 three-peating at 49.99 ETH; Pudgy Penguins retreated −2.4% to 4.37 ETH as 4.50 resistance held and NFTPER_pandalover went silent; Azuki's bid fell −2.9% to 0.763 WETH despite a headline volume boost driven by one 25 ETH outlier trade; Doodles hit a tracking-period low of 1.06 ETH in 24h volume with 0x0fd2b distributing a second consecutive session and two tracked accumulator wallets going dormant.
Tuesday's ETH ETF print erased nearly half of Monday's record: −$40.9M on Day 26, with Grayscale (ETHE + ETH mini) absorbing 79.2% of the outflow. ETH closed June 9 at $1,638.31 (−3.05%), confirming $1,700 as resistance and setting up Wednesday's live test of $1,600 — intraday low $1,604.53 so far, with a partial recovery to $1,651.61 as of publication. 12
ETH/BTC ratio closed Jun 9 at 0.02656 (−0.88%), snapping the 2-day ETH outperformance streak that opened with June 5's ETF inflow reversal. On a 24h rolling basis, CoinGecko shows ETH $1,652.35 (−0.66%) and BTC $62,136 (−2.81%), with ETH recovering faster from Wednesday's intraday dip. 3 PENGU token sits at $0.006716 (−0.94% from last checkpoint), marking a 4th consecutive negative session and diverging from Pudgy NFT floor price direction. 4
Quick scan: Tuesday June 9 session
| Collection | Floor (ETH) | 24h chg | Top bid (WETH) | Bid chg | 24h vol (ETH) | Listed |
|---|---|---|---|---|---|---|
| BAYC | 9.08 | −0.2% | 8.55 | flat | 83.65 | 3.0% |
| CryptoPunks | 32.95 | flat | — | — | 0.00* | 10.8% |
| Pudgy Penguins | 4.37 | −2.4% | 4.26–4.30 | flat | 52.82 | 2.5% |
| Azuki | 0.8098 | −1.1% | 0.763 | −2.9% | 31.02† | 4.6% |
| Doodles | 0.4889 | +2.0%‡ | 0.48 | +0.8% | 1.06 | 2.4% |
*OpenSea surface vol shows 0.00 ETH for the 4th straight session; activity feed confirms at least 4 trades totaling ~148 ETH. 56
†Azuki volume inflated by one 25.00 ETH outlier (#5172, jarindr → SpiritMonke); organic volume ex-outlier ~6.02 ETH. 7
‡Doodles floor rebound reflects seller exhaustion, not buyer demand — volume hit an all-time low for this tracking period. 8
Macro: ETF Day 26 confirms the record was noise
Day 25's +$82.4M was not the start of a trend. Day 26 delivered −$40.9M, reversing 49.6% of Monday's record in a single session. 2 The issuer breakdown tells the story: ETHE −$17.4M and ETH (Grayscale Mini) −$15.0M accounted for $32.4M (79.2%) of the outflow. BlackRock's ETHA added the remaining −$8.5M. Every other issuer — ETHB, FETH, ETHW, TETH, ETHV, QETH, EZET — printed zero. The five issuers that drove Monday's record (Fidelity FETH at +$28.6M, Bitwise ETHB at +$26.9M, BlackRock ETHA at +$17.8M, Grayscale ETH at +$8.0M, and one minor flow) all went silent. Cumulative ETF total: $11,271M (down from $11,312M at Day 25). Day 27 (Wednesday June 10) shows placeholder dashes on Farside — normal T+1 delay, figures expected Thursday morning. 2
The macro divergence that Monday's briefing flagged has now resolved bearishly. June 8 closed flat at $1,689.91 despite the record inflow; June 9 dropped 3.05% with ETF outflows resuming. The round $1,700 level capped Tuesday's session at a high of $1,695.94 — $5.06 below the threshold. 1 BTC fell a milder −2.20% on June 9 (close $61,690.40), $740 above $60,000 support, bringing volume to 3,294.57 BTC (+79.3% vs Jun 8). 12
Wednesday's live level is $1,600. The intraday bar through ~14:00 ET: open $1,638.31, low $1,604.53 (first touch of $1,600 since the June 6 selloff to $1,539.72), partial close $1,651.61. ETH volume through midday: 23,169 ETH, pacing below Tuesday's full-day 41,898 ETH. 1 The bounce from $1,604.53 to $1,651.61 (+2.9%) is the first data point on whether $1,600 holds as support or becomes the next level to break. Full ETF issuer-by-issuer flow history is available at Farside ETH ETF flows.
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BAYC: floor holds, MachiBigBrother returns, DelBroko streak breaks
Floor at 9.08 ETH (−0.2% from 9.10 ETH), top bid 8.55 WETH unchanged. 9 Bid-floor ratio ticked to 94.2% (from 93.9%). Volume came in at 83.65 ETH (−23.8% from 109.74 ETH), a normal Tuesday-to-Wednesday step-down without a single-wallet sweep event. The real floor from the activity feed: 9.00 ETH (#4768, Crypto0426 → f46a58), with a surface-to-real gap of just 0.08 ETH — sharply tighter than Monday's 0.66 ETH gap, indicating floor listings compressed. 13
MachiBigBrother (0x020ca66c) returned after 6 sessions of silence — the longest such gap since tracking began — selling BAYC #9779 at 9.26 WETH to NFTPER_pandalover. NFTPER_pandalover immediately flipped #9779 to JAMYOR at 9.75 ETH, netting ~0.49 ETH (~$800 at current ETH price) within the same activity window. 13 The flip absorbed at 9.75 ETH — well above the 9.08 surface floor — signals there is demand above surface at this range. Other visible sessions: BAYC #9589 at 10.75 WETH (Axweden_BAYC → KRAM_btc), #8754 at 9.50 WETH (Fengtastic-VAULT → pablodo), #4447 at 9.35 ETH (WM- → bbthemarketer.eth).
DelBroko buying streak is broken: no purchases detected after two consecutive sessions (last: #1897 at 9.50 ETH on June 9). Whale wallets 0b1w0nk3n0b1 (now 8 sessions silent), 0xa6b82569 (7 sessions), and bArdaC (7 sessions) remain inactive. 13 The activity feed covers the first ~7 of 63 visible sale events; sub-9.00 sales in the truncated portion cannot be ruled out, so the 9.00 ETH real floor is a lower-bound estimate.
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CryptoPunks: volume anomaly day 4, #4986 three-peats at 49.99 ETH
Surface 24h volume: 0.00 ETH — 4th consecutive session. This is a confirmed structural gap in OpenSea's volume counter for CryptoPunks, not a transient data refresh lag. 5 Surface floor: 32.95 ETH, flat. Listed: 10.8% (flat) — still the highest listing rate in the blue-chip cohort, representing a supply overhang that needs session-by-session organic absorption.
Four sales parsed from the activity feed: #4986 at 49.99 ETH (end0x.eth → 234e8), #1905 at 32.50 ETH (moistvonlipwig.eth → 14f083), #9233 at 33.99 ETH (ByTheG → ruuted), #3168 at 32.00 ETH (71e3d2 → 0x8f2abde5). 6 Estimated real volume from those four: ~148.48 ETH. The feed shows additional markers for more sales, but base64 image bloat (file grew to 1.5MB) prevented parsing beyond these four.
#4986 selling at 49.99 ETH marks three consecutive sessions at the identical price — June 8, 9, and 10, same seller end0x.eth each time, new buyer each session. Three-session price convergence at a non-round number is statistically significant; the most likely explanation is a planned distribution by end0x.eth at a firm ask. #3168 — which served as the real floor listing at 32.00 ETH last session — has now been bought, pushing the new confirmed real floor to #1905 at 32.95 ETH (+0.95 ETH from last session's real floor). No top bid data available for CryptoPunks on OpenSea; bid/floor ratio cannot be computed. 5
Pudgy Penguins: 4.50 resistance holds, NFTPER_pandalover silent
Floor retreated to 4.37 ETH (−2.4% from 4.477 ETH), closing below the 4.50 ETH resistance level that capped Tuesday's session. 10 Top bid: 4.26 WETH (collection page) / 4.30 WETH (activity feed) — essentially flat from last session's 4.29 WETH. Volume dropped to 52.82 ETH (−53.5% from 113.62 ETH). Listed supply held at 2.5%, the tightest in the five-collection cohort. Six consecutive sessions with zero sub-4.00 ETH sales — the 4.00 ETH support level has not been tested from below since tracking began. 14
NFTPER_pandalover went silent: no Pudgy purchases detected after two consecutive sessions of buying (most recent: #6749 at 4.66 ETH on June 9). Sales captured from the activity feed: #3321 (4.37 ETH, 57768d → cc41), #4004 (4.29 WETH, e455eb → 294963), #6195 (6.50 ETH, chandlerrrr → c8b659), #2136 (4.3699 ETH, PvdgyPenguin → IROHAN1730). 14 No sweeps or floor-clearing events. The 4.37–4.30 WETH range is holding; the question heading into Thursday is whether the ETH macro pullback brings volume back or continues to depress it below the 52 ETH level.
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Azuki: bid weakens to 0.763 WETH; fourth zero sub-0.75 session
Floor at 0.8098 ETH (−1.1% from 0.819 ETH). Top bid fell to 0.763 WETH (−2.9% from 0.786 WETH) — the bid has now declined across multiple sessions while the floor drifts lower. 11 That widening bid-floor gap signals buyer willingness is retreating faster than the floor itself. Listed supply: 4.6%, flat.
Surface 24h volume shows 31.02 ETH — but this is not organic volume. A single trade, Azuki #5172 at 25.00 ETH (jarindr → SpiritMonke), accounts for 80.6% of the headline figure. Stripping that outlier, true volume was ~6.02 ETH for the session, roughly half of Tuesday's 11.51 ETH. 7 Other visible sales: #6354 (0.8399 ETH), #4100 (0.81 ETH), #4149 (0.79 ETH), #6835 (0.80 WETH), #1967 (0.756 WETH — the lowest sale, still above the 0.75 threshold). Four consecutive sessions without a sub-0.75 print; the seller-exhaustion thesis from last week continues to hold on a floor-defense basis. The weakening bid is the harder signal to dismiss.
Doodles: volume hits all-time low at 1.06 ETH
Floor: 0.4889 ETH (+2.0% from 0.4791 ETH), technically a rebound but the driver is seller exhaustion rather than buy-side demand. Top bid: 0.48 WETH (+0.8% from 0.476 WETH), bid-floor spread widened to 0.0089 ETH (~$15 at current ETH) from last session's 0.0031 ETH. 8 Volume collapsed to 1.06 ETH (−55.5% from 2.38 ETH) — the lowest 24h volume recorded for Doodles in this tracking period, with an estimated 7–8 transactions. 8
0x0fd2b continued distributing: sold Doodle #7857 at 0.5091 ETH to 0xicantstop, and #7763 at 0.4889 ETH (floor-level) to kgkti. 15 This wallet reversed from net buyer (June 8) to net seller for the second consecutive session. Doodle #7763 has now changed hands at least five times during the tracking period — the same token cycling through addresses near floor with no directional step-up. Tracked wallets 5da05d and 55b055 both went dormant this session, adding to the buyer-vacuum picture. 15 Listed supply: 2.4%, flat; 4,492 unique holders (44.9%). The floor tick-up to 0.4889 ETH is a direct echo of the prior session's floor — with no new buyers stepping in, the "rebound" is the same listing sitting unsold while distress sellers have temporarily paused.
Signals and watch items
$1,600 live test (ETH): Wednesday's intraday low of $1,604.53 is the first $1,600 test since June 6. A daily close below $1,600 would extend the macro headwind for ETH-denominated NFT floors. Bounce to $1,651.61 so far is constructive but unconfirmed until the daily close. 1
ETF Day 27 (Thursday): Farside is showing dashes for all Day 27 issuers — figures expected Thursday morning ET. The question is whether Wednesday's session (amid live $1,600 testing) produces a third consecutive negative print, holds zero, or reverses. 2
BAYC whale re-activation: MachiBigBrother's 6-session silence ended with a 9.26 WETH sale. NFTPER_pandalover absorbed and flipped at 9.75 ETH — absorption at that level is positive for the 9.00–9.08 floor bid stack. DelBroko pause (1 session) is worth monitoring: two buys in a row, then silence often precedes either another buy or a sustained step-back.
Pudgy 4.50 resistance: The 2.4% floor retreat after failing 4.50 ETH aligns with the broader ETH pullback. If ETH stabilizes at $1,600 and Thursday ETF data prints positive, 4.50 is still the first resistance to clear for resuming the uptrend. Volume at 52.82 ETH is adequate; listed supply at 2.5% remains supportive.
Doodles structural concern: 1.06 ETH in 24h volume with 0x0fd2b distributing and two tracked wallets dormant is a buyer-vacuum signal. The floor tick-up to 0.4889 ETH is not a recovery — it is the absence of sellers, not the presence of buyers. Any distress sale crossing the 0.48 WETH bid would immediately test whether bid support is real.
CryptoPunks #4986 / end0x.eth: Three consecutive 49.99 ETH sales from the same seller. This pattern either concludes in the next 1–2 sessions (seller runs out of specific buyers at this price) or continues, confirming a planned OTC-style distribution channel. Watch for whether end0x.eth continues at session 4 or shifts price.
Data sourced from Kraken daily OHLC 112, CoinGecko spot 34, Farside Investors ETH ETF flow table 2, and OpenSea collection pages and activity feeds 5891011. Activity feeds capture the most recent visible transactions per fetch; full 24h transaction sets are not accessible via this method. CryptoPunks 24h volume counter has shown 0.00 ETH for four consecutive sessions — real volume estimated from activity feed parse (4 confirmed trades). Blur and Magic Eden cross-marketplace data unavailable — Blur blocks data collection for this channel.
References
- 1Kraken ETH/USD daily OHLC
kraken.com
- 2Farside Investors: Ethereum ETF flows
farside.co.uk
- 3CoinGecko: ETH & BTC spot prices
coingecko.com
- 4CoinGecko: PENGU token spot price
coingecko.com
- 5OpenSea: CryptoPunks collection
opensea.io
- 6OpenSea: CryptoPunks activity feed
opensea.io
- 7OpenSea: Azuki activity feed
opensea.io
- 8OpenSea: Doodles collection
opensea.io
- 9OpenSea: BAYC
opensea.io
- 10OpenSea: Pudgy Penguins
opensea.io
- 11OpenSea: Azuki
opensea.io
- 12Kraken BTC/USD daily OHLC
kraken.com
- 13OpenSea: BAYC activity feed
opensea.io
- 14OpenSea: Pudgy Penguins activity feed
opensea.io
- 15OpenSea: Doodles activity feed
opensea.io
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