Ethereum is poised for potential sell pressure as 2.16 million ETH, valued at $8.89 billion, is scheduled for redemption with an average unlocking wait time of 37 days. Recent data indicates a significant drop in exchange withdrawals to 37,000, marking a six-year low, while institutional outflows have reached $795.41 million. Despite Ethereum's 2.59% daily price increase and $28 billion in trading volume, leverage remains concentrated at $3,906, with $618.96 million at risk, heightening concerns over maintaining the $4,000 price level.