Ethereum dey drop as whale dem dey cash out, ETF money still dey strong
Ethereum price drop from intraday high near $3,856 to low about $3,640, fall over 2% as big whales dey collect profit and risk of liquidation dey. On-chain data show heavy long exposure between $3,600 and $3,700, with key liquidation line at $3,654.77 for $3 million position. One whale reportedly sell 8,000 ETH (~$30 million). Volume still high, ETH futures open interest don climb to $58 billion as traders dey trade around critical support levels $3,500 and $3,000. Institutional demand still dey: BlackRock spot Ethereum ETF add 27,000 ETH (~$100 million), total spot ETF inflows reach 588,000 ETH last week. Ethereum also lead digital asset inflows with $2.12 billion, backed by firms like SharpLink Gaming. On-chain metrics show steady staking growth and ETF inflows. Technical indicators remain good, daily RSI below overbought levels and bullish MACD. Traders see $4,000 as next resistance before possible rally to $13,000–$17,000, while upcoming network upgrades—Fusaka early November, Devnet-3 and “Glamsterdam”—fit further support Ethereum price momentum.
Bullish
Despite say short-term profit-taking by whales plus small price corrections, strong institution demand through spot ETFs, rising open interest and constructive technical indicators (RSI, MACD) dey support Ethereum price strength. On-chain metrics show heavy long positioning absorb by fresh inflows, while upcoming network upgrades (Fusaka, Devnet-3, Glamsterdam) dey add long-term catalysts. Traders likely go see pullbacks for important supports as buying opportunities, targeting breakout above $4,000 and higher price levels, meaning say e go get bullish impact on ETH.