Ethereum price forecast: Can $121M ETF inflows support ETH as CLARITY Act odds sink to 16%?
Ethereum is receiving conflicting signals as institutional capital continues to flow into spot ETFs while regulatory uncertainty in Washington intensifies again. The question now is whether resilient demand can offset an increasingly fragile price structure.
The odds of the CLARITY Act passing in 2026 have fallen to 16% on Polymarket after key Democrats declined to support Republicans’ “final” proposal. The probability had briefly risen to 35% following the release of the revised text, but Senator Mark Warner said the new ethics provisions were still insufficient, while Democrats began preparing a counterproposal. The bill needs 60 Senate votes to advance in today’s procedural vote.
Despite the regulatory uncertainty and persistent geopolitical and macroeconomic risks, institutional demand for Ethereum remains intact. SoSoValue data show that U.S. spot Ethereum ETFs attracted $121 million in net inflows on September 14.
The on-chain picture provides another positive signal. According to Santiment, exchange balances have fallen to around 6.06 million ETH, down sharply from a peak of 22.9 million in June 2020.

Failure above $2,600 keeps the bearish setup alive
ETH once again tested the previously highlighted $2,600–2,700 liquidity zone, but buyers failed to establish the price above it.
Following the failed attempt, Ethereum moved back inside the $2,370–2,550 range.
The bearish setup therefore remains relevant. As long as ETH stays below $2,600, the risk of another move toward key support at $2,370 remains elevated over the coming weeks.
A decisive break and sustained move below this level could accelerate the decline toward $2,200, where the 50-day SMA is currently located.
The bearish scenario would be invalidated only by a sustained move above $2,600 for at least one full trading day.

Strong demand collides with a difficult macro calendar
The main contradiction for Ethereum is that its fundamental backdrop currently looks considerably stronger than its short-term chart. ETFs continue to attract capital, while the amount of ETH held on exchanges has fallen to a multi-year low, creating a potentially supportive supply backdrop.
Near-term price action, however, is likely to be driven primarily by events. Today’s CLARITY Act vote could sharply reshape regulatory expectations, while the Fed will announce its rate decision and publish updated economic projections on September 16.