Ethereum falls 12% in October as ETF outflows hit $671 million

Ethereum faces ongoing pressure after declining by approximately 12% in October, with its value dropping from around $2,684 at the start of the month to the $2,350–$2,370 range as of October 24. The cryptocurrency, which ranks as the second-largest by market capitalization, has found it difficult to maintain levels above $2,500, resulting in uncertainty among investors over whether it can hold the $2,300 support or face renewed selling. The recent slide in Ethereum’s price has coincided with sustained outflows from U.S. spot exchange-traded funds. Over the last 30 trading sessions, cumulative net withdrawals from these funds reached approximately $671 million, with outflows reported on 19 days during this period. Persistent ETF selling has been cited as a key factor weighing on market sentiment.

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