Ethereum Faces ETF Outflows, Upgrade Delay and Rate Risks

| cryptodaily.co.uk
Ethereum traded near $2,320 after falling to about $2,285 on October 24 and recovering to around $2,360. ETH remained roughly 12% below its early-October level, with $2,300 acting as near-term support and $2,400 as a key hurdle. A sustained move above $2,400 could bring the $2,480–$2,500 resistance zone into focus, while a break below $2,285 may expose $2,200 and potentially $2,000 in a broader market downturn. Ethereum ETF flows remain uneven. US spot Ethereum ETFs recorded a $4.3 million net inflow on October 23, following $110.6 million in outflows the previous day. Withdrawals over the five sessions through October 23 totalled about $220.7 million, while net outflows over the prior 21 trading days reached roughly $1.13 billion. ETF assets stood near $14.6 billion. Sustained inflows could support institutional demand for ETH, but continued redemptions may add pressure. Developers postponed the Glamsterdam upgrade’s planned October 26 activation on the Hoodi testnet to investigate how EIP-8037 interacts with existing smart contracts. No replacement date has been set. The delay affects a testnet milestone, not Ethereum’s live network, and no mainnet schedule was announced. It postpones testing for planned scaling and efficiency improvements; no direct link between the delay and ETH’s price decline has been established. The Federal Reserve’s October 27–28 meeting is another near-term catalyst. Most economists surveyed by Reuters expected rates to remain at 3.75%–4.00%, but inflation keeps the outlook uncertain. A hawkish signal could weigh on ETH, while a softer stance may improve risk appetite. Traders are watching ETF flows, upgrade updates and interest-rate expectations for direction.
Bearish
The combined near-term signals are negative for ETH: the token remains well below its early-October level, spot ETF outflows have been substantial over recent weeks, and uncertainty around the Glamsterdam test schedule may temper sentiment toward upcoming network improvements. The Fed meeting adds macro risk, as a hawkish outlook could reduce demand for risk assets. These factors may keep traders cautious and reinforce selling if ETH loses support near $2,300 or breaks below the recent $2,285 low. However, the upgrade delay is confined to a testnet and has not been directly linked to the price decline. A clear new test schedule, renewed ETF inflows or a softer Fed message could improve sentiment; a sustained move above $2,400 would be an important near-term sign of recovery. Over the longer term, the testnet delay alone does not change Ethereum’s live network, but persistent ETF redemptions and delayed progress on planned improvements could weigh on demand until confidence returns.