Ethereum News Today: Ethereum's Volatility Pits Upgrades Against Exodus to Bitcoin

Ethereum's long liquidation surge reached $480,000 as the liquidation price hit $3,776, according to Lookonchain. This development underscores renewed volatility in the cryptocurrency market, with Ethereum (ETH) struggling to stabilize after recent price swings. The unrealized losses for the "Big Brother" Huang Lizheng address totaled $291,300, highlighting the fragility of leveraged positions amid fluctuating demand, the Lookonchain report added.

The broader crypto market remains in flux, with Bitcoin (BTC) also under pressure. An analysis by Yahoo Finance notes that Bitcoin could soon revisit pre-crash price levels near $121,000, but must first clear the "CME gap" at $111,000–$112,000. Meanwhile, Ethereum's price action has been marked by conflicting signals. While it briefly broke above $4,200 and the 50-day EMA, it faces critical resistance at $4,270—a level FXStreet previously noted it failed to surpass in October. On the downside, support is seen near $3,800, with technical indicators like the RSI and Stochastic Oscillator suggesting potential for a short-term correction.

Ethereum ETFs continue to hemorrhage funds, with $81.44 million in outflows recorded on October 29, Crypto.News reported. This follows a broader trend of capital shifting from Ethereum to Bitcoin, as investors seek safer havens amid Federal Reserve uncertainty. According to Coinpedia, U.S. crypto ETFs saw combined outflows of $550 million on October 29 after Fed Chair Jerome Powell signaled the 2025 rate-cut cycle might end with the recent 25-basis-point reduction. Bitcoin ETFs, however, attracted $446 million in inflows during the same period, a shift highlighted by TradingView.

Despite the turbulence, Ethereum's ecosystem remains active. The Fusaka upgrade, which includes 12 Ethereum Improvement Proposals (EIPs), successfully launched on the Hoodi testnet and is slated for mainnet deployment on December 3, FXStreet reported on the testnet launch. This upgrade aims to enhance scalability and enable parallel execution of Layer 2 transactions, according to Consensys. Meanwhile, MegaETH's initial coin offering (ICO) attracted $350 million in pre-deposits, valuing the Ethereum layer-2 network at $7 billion—though that valuation will adjust after allocation decisions are finalized, a Yahoo Finance piece added.

Institutional demand for crypto persists, with companies like Strategy and American Corporation adding to their Bitcoin reserves, the Yahoo Finance analysis noted. Strategy acquired 390 BTC ($43.4 million), while American Corporation purchased 1,414 BTC, becoming the 26th largest corporate holder. Such activity contrasts with Ethereum's ETF struggles, where BlackRock's ETHA and Grayscale's ETHE remain the most affected by outflows, a trend covered earlier by Crypto.News.

The market's technical outlook remains mixed. While Ethereum's price reclaimed $4,200 and treasury activity increased, the RSI near 44.45 and MACD at -68.13 suggest weakening bullish momentum, Crypto.News observed. A sustained break above $4,253 could target $4,730–$4,750, but a failure to hold $4,200 may trigger a pullback toward $3,750, according to a separate crypto commentary on treasury activity.