Ethereum News Today: "Ethereum's Bearish Battle: Whales Bet Against as Institutions Accumulate"

Ethereum's price struggles near $3,300 have intensified as a high-stakes short position from a whale investor and persistent ETF outflows deepen market uncertainty. A single address recently opened a 25x short position on 7,368.8 ETH, equivalent to $28.2 million, with a liquidation price of $3,953.3, marking a significant bet against the asset, a Bitget report. This move comes as Ethereum's price remains below key psychological and technical support levels, with outflows from ETFs extending to a fifth consecutive day, a crypto.news report.

The bearish momentum is evident in technical indicators. The MACD has maintained a sell signal since mid-October, with the RSI approaching oversold territory at 33, suggesting further downward pressure could persist, an FXStreet analysis. A close below $3,500 risks a 4% drop to $3,350, a support level tested earlier this year, the FXStreet piece warns. Meanwhile, Ethereum's spot exchange netflow hit a record -$359 million on November 3—the third-largest outflow since October—indicating investors are moving holdings to private wallets, a classic "buy the dip" strategy, according to a Yahoo Finance report. Historical patterns show such outflows have preceded 7%-13% rebounds in prior months.

Institutional activity highlights a mixed outlook. BitMine, a major Ethereum treasury firm led by Tom Lee, has added 662,169 ETH ($285 million) in the past month, boosting its holdings to 3.1 million ETH (nearly 3% of the total supply), a Crypto.News piece. This accumulation contrasts with broader market weakness, as Asian exchanges show positive net flows amid U.S. selling, an Investing.com analysis. However, analysts caution that macro risks, including rate cut-induced volatility and geopolitical tensions, could derail any near-term recovery, the Yahoo Finance piece notes.

The Ethereum ecosystem remains structurally resilient despite price declines. Layer-2 platforms like Arbitrum and Optimism have maintained TVL above $20 billion, and projects such as Remittix (RTX) are attracting capital amid market stress, an Investing.com analysis found. Additionally, Ethereum's Fusaka upgrade in December 2025 could reignite buying interest, though its impact remains uncertain, the Crypto.News piece suggests.

Long-term fundamentals, including rising stablecoin activity and institutional accumulation, suggest a potential rebound toward $4,000–$4,500 once macro conditions stabilize, the Investing.com analysis adds. Tom Lee's projection of a $7,000 target by late 2026 hinges on renewed risk appetite, though the immediate path remains fraught. With Ethereum trading below its 30-day moving average at $3,847, sellers continue to dominate, and the RSI's suppression below 40 reinforces bearish sentiment, the Crypto.News piece notes.