Ethereum News Today: Ethereum's $3K Defense: Bearish Momentum vs. Whale Bets on Rebound

Ethereum's price decline has intensified, with the cryptocurrency trading near $3,100 as of October 31, 2025, raising questions about whether the $3,000 support level can hold. The market's bearish momentum has been fueled by a $2.6 billion expiration of Ethereum options on Deribit, with a put-to-call ratio of 1.91 and the price below the max pain level of $4,100.12, according to a TradingView report. Meanwhile, that report also noted spot Ethereum ETFs have attracted $9.6 billion in inflows during the third quarter of 2025, outpacing Bitcoin ETFs, which drew $8.7 billion. However, recent outflows from Bitcoin and Ethereum ETFs—totaling $327 million on November 3—signal growing institutional caution amid a broader market downturn, as detailed in a crypto.news report.

Institutional activity has further complicated the outlook. BlackRock transferred $1 billion in Bitcoin and Ethereum to Coinbase Prime over five days, with the firm now custodizing $17.6 billion of BlackRock's crypto assets. Analysts attribute these moves to custodial rebalancing for the iShares Bitcoin Trust (IBIT) and Ethereum Trust (ETHA), which manage $85 billion and $14 billion in assets, respectively, according to a Coinotag report. The transfers underscore institutional confidence in crypto custody solutions, even as ETFs face redemptions.

Contrarian signals emerge from major market participants. A prominent crypto whale known as HyperUnit opened $55 million in long positions on Bitcoin and Ethereum via Hyperliquid, betting on a rebound. The whale, known for profiting during the October U.S.-China tariff-driven crash, has a seven-year track record of strategic bets, according to a CoinMarketCap report. Similarly, Ethereum's large withdrawals from exchanges—linked to accumulation phases before market gains—suggest some investors remain bullish, as noted in the TradingView report.

Technical indicators paint a mixed picture. Ethereum's price has breached the 200-day simple moving average (SMA) at $3,370, confirming a bearish trend. The Relative Strength Index (RSI) at 43 and negative MACD signal ongoing selling pressure, though prices have not yet reached oversold territory, according to a CryptoTicker analysis. If Ethereum falls below $3,000, the next key supports lie at $2,730 and $2,400. A potential rebound could occur if Bitcoin stabilizes near $100,000, pushing ETH back toward $3,500, the CryptoTicker analysis also suggests.

The broader crypto market has lost over $3.6 trillion in capitalization, with Bitcoin and Ethereum leading the decline. Solana, BNB, and Cardano have all dropped sharply, while newly launched ETFs for altcoins like Solana and Hedera have seen inflows, hinting at shifting investor priorities, as reported by crypto.news.