Ethereum (ETH) faces mounting pressure as U.S. investor momentum wanes, with price indicators suggesting a potential decline to $3,500 if key support levels break. Recent data shows a sharp drop in demand across spot and derivatives markets, exacerbated by Federal Reserve policy uncertainty and profit-taking behavior, according to an FXStreet forecast. Meanwhile, institutional players like BlackRockBLK-- and CoinbaseCOIN-- continue to shape Ethereum's trajectory through ETF flows and on-chain accumulation, highlighting a complex interplay between market sentiment and structural developments, as noted in a Cryptobriefing report.
Ethereum spot ETFs experienced a net inflow of $134 million on October 27, led by BlackRock's ETHA with $72.5 million in purchases, according to Lookonchain data. However, this follows a broader trend of outflows since October 8, totaling 158,374 ETHETH--, the FXStreet analysis noted. The EthereumETH-- Coinbase Premium Index turned negative at -2.8%, signaling weaker demand on the exchange compared to peers, the FXStreet coverage added. Similarly, CME Futures annualized basis for ETH contracts with six-month-plus expiry fell to 3.0%, reflecting reduced bullish positioning, per the same FXStreet analysis.
BlackRock's dominance in the ETF landscape extends beyond BitcoinBTC--, with its Ethereum products capturing significant inflows despite broader market caution, according to a Coinotag analysis. The asset manager's $72.5 million ETH purchase via its spot ETF underscores growing institutional confidence in Ethereum's role in decentralized finance (DeFi) and tokenization, as Cryptobriefing reported. This aligns with Ethereum's steady traction, as its ETFs have accumulated $11.84 billion in inflows year-to-date—compared to Bitcoin's reliance on BlackRock for nearly all of its $28.1 billion in flows, the Coinotag analysis observed.
Coinbase's Q3 2025 earnings revealed a 9% quarterly increase in Ethereum holdings, with the exchange amassing 11,933 ETH and 2,772 BTC, according to a U.Today report. The firm's strategic accumulation, coupled with expanded institutional staking services for SolanaSOL--, AvalancheAVAX--, and other proof-of-stake assets, signals a shift toward direct crypto exposure, as covered by LiveBitcoinNews. Meanwhile, BitMine's acquisition of 3.16 million ETH—2.61% of the total supply—further reinforces Ethereum's narrative as a store of value, according to The Crypto Basic report.
Price analysis indicates ETH is trading within a descending channel, with a breakdown below $3,700 risking a slide to $3,470, the FXStreet forecast warned. While whales have resumed accumulation, adding 210K ETH in a week, open interest remains volatile, dipping to 12.4 million ETH on Friday after a brief rebound. On the optimistic side, Ethereum developers have locked in December 3 for the Fusaka upgrade, which includes scalability-focused Ethereum Improvement Proposals (EIPs) like EIP-7594, according to an FXStreet report. The upgrade, along with increased blob capacity expansions in December and January, could catalyze a rebound if paired with renewed institutional demand.
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