Ethereum News Today: "Ethereum's Triple Bottom Defies Outflows as Bitcoin Counts Down to $31B Expiry Volatility"

Bloomberg-style news article on cryptocurrency market dynamics and expert predictions:

Danish macroeconomist Henrik Zeberg has intensified warnings about an impending market crash, predicting Ethereum (ETH) will outperform Bitcoin (BTC) in a potential "blow-off top" phase before a major downturn. Zeberg likens current conditions to historical bubbles like the steam engine and internet eras, noting crypto and stock markets are valued at 2.5 times their fundamental worth. "If you add crypto to market capitalization, today we are at 250%-nearly double the 2000 dot-com bubble," he stated in a U.Today report. Despite the grim outlook, Zeberg forecasts a period of extreme euphoria before a deep recession triggers a crypto crash, according to a Phemex report.

Recent ETF flows highlight diverging trends between the two leading cryptocurrencies. Bitcoin ETFs recorded $20.33 million in inflows on October 23, led by BlackRock's IBIT with $107.78 million, while Ethereum ETFs saw $127.51 million in outflows. This follows a $477 million inflow for Bitcoin ETFs on October 21, underscoring volatile investor sentiment, according to a Coinpedia report. Bitcoin traded near $111,300, struggling to extend its "Uptober" gains and remaining 2.3% below its monthly open, a CryptoNews article noted. In contrast, Ethereum fell 6.5% to $3,957 since the start of the month, though technical indicators suggest potential for a rebound.

Ethereum's price action has drawn mixed analyses. The token formed a "triple bottom" pattern around $3,750–$3,800, indicating strong support, CryptoNews reported. Institutional activity in Ethereum derivatives hit record highs, with $9 billion in options open interest and 48,600 futures contracts on CME, according to a Yahoo Finance analysis. However, ETF outflows continued, with Fidelity's FETH leading redemptions at $77.04 million, as Coinpedia noted. On-chain data from Glassnode shows accumulation among large ETH holders, suggesting potential for a rally above $4,000, CryptoNews also observed.

Bitcoin faces its own challenges ahead of Halloween, when $31 billion in options contracts are set to expire—nearly double last month's record. Deribit alone has $14 billion in expiring contracts, with $2 billion concentrated in put options betting Bitcoin will fall to $100,000, a Yahoo Finance report said. Analysts warn large expiries often trigger volatility spikes, with directional moves possible within 24–72 hours post-expiration. Bitcoin currently trades near $109,866, with bulls targeting a retest of $115,000, according to a Crypto.News article.

The broader market context reveals growing institutional interest in Ethereum. A potential spot-ETH ETF approval could attract significant capital, with tokenized real-world assets on Ethereum surging from $8.6 billion to $25 billion in early 2025, a TradingView note observed. Despite ETH's outflows, prices remain stable, suggesting limited downside pressure as holders move tokens to private wallets. Meanwhile, Bitcoin's "Uptober" performance remains uncertain, with historical data showing typical October gains of 20% in bull markets, CryptoNews data indicates.