Ethereum News Today: Ethereum ETF Surge Clashes With Whale Short Schemes: $10K in Sight?

Ethereum's price outlook has brightened as U.S. spot ETH exchange-traded funds (ETFs) resumed inflows, sparking renewed investor confidence and prompting analysts to speculate on a potential path to $10,000 for the second-largest cryptocurrency. The recovery comes amid a broader market narrative where crypto whales-large investors with significant market influence-are once again making strategic moves, this time with Ethereum in focus, according to a Crypto.News report.

The latest ETF data shows $141.6 million in net inflows on October 21, led by Fidelity's FETH and BlackRock's ETHA. This marks a reversal after three days of outflows and signals growing institutional interest in Ethereum. Analysts attribute the shift to expectations of a Federal Reserve rate cut in late October, which could ease macroeconomic pressure on risk assets like crypto, as reported by Crypto.News. Meanwhile, Ethereum's price has stabilized near $3,857, with key technical indicators suggesting a potential rebound. The 24-hour trading volume rose 35.2% to $45.8 billion, while derivatives volume surged 57.3% to $114.2 billion, reflecting heightened market activity.

The renewed optimism contrasts with recent volatility triggered by Bitcoin whales. A prominent Bitcoin whale known as "BitcoinOG(1011)," who accurately predicted the October 10-11 crash, has continued to amplify its short positions. As of October 22, the whale held $140 million in open shorts on Hyperliquid, though this represents an $87 million reduction from earlier in the week, as reported by Yahoo Finance. The whale's actions, along with those of another trader labeled a "Trump insider whale," have fueled speculation about insider trading and market manipulation. Arkham Intelligence flagged the latter for its suspiciously precise timing of short positions before Trump's tariff announcement, which triggered a $19 billion in crypto liquidations, according to an Investing.com analysis.

The interplay between these whales' strategies and broader market trends highlights a self-fulfilling dynamic. When large traders execute highly leveraged bets, smaller participants often follow, amplifying price movements. For example, the "Trump insider whale" wired $250 million in profits back to its funding wallet within an hour of Trump's tariff announcement, closing nearly all Ether shorts and 90% of Bitcoin shorts, the Investing.com analysis noted. Such moves underscore the power of on-chain signals in shaping market sentiment.

While Ethereum's fundamentals remain mixed-trading 21% below its August peak and facing a 6% weekly loss-analysts see a path to higher prices if ETF inflows continue and the Fed adopts a dovish stance. "The market is not yet oversold, but the RSI of 41.15 suggests bearish momentum is abating," one analyst noted, according to Crypto.News. The next key resistance level is $4,500, with support at $3,800.