Ethereum Bulls Eye ETH/BTC Breakout as ETF Outflows Continue to Mount

TL;DR: The ETH/BTC technical pair traded near 0.02955 after breaking above a descending downtrend line, according to records shared by technical analysts on November 3. Spot Ethereum exchange-traded funds (ETFs) in the United States recorded net outflows of $139.7 million during the closed session on November 2. BlackRock’s ETHA product concentrated $138.3 million of total net redemptions recorded by Farside Investors on that session. The ETH/BTC technical pair staged a breakout against a key descending trendline this Tuesday, November 3, despite U.S. spot exchange-traded funds maintaining a negative capital balance. Charts published by technical analysts Max Crypto and Ash Crypto on November 3 showed signs of technical recovery for Ethereum against Bitcoin following the cumulative declines in October.

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