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Ethereum Updates Today: Institutions Accumulate as Market Uncertainty Looms—Ethereum’s $4K Recovery Faces a Pivotal Moment

Ethereum Updates Today: Institutions Accumulate as Market Uncertainty Looms—Ethereum’s $4K Recovery Faces a Pivotal Moment

Bitget-RWA2025/10/24 21:02
By:Bitget-RWA

- Ethereum faces critical juncture amid Hong Kong's first ETF approval injecting $141.66M and institutional buying of 63,539 ETH ($251M) by BitMine. - Analysts project $10K-12K 2025 target as Tom Lee's firm accumulates 2.73% supply, while technical indicators highlight $3,947-4,075 EMAs as key resistance. - Market remains divided: $4,075 breakout could trigger $4,476 rally, but breakdown risks testing $3,400 support amid $44B futures open interest and $97.6M October exchange outflows. - Institutional accum

Ethereum (ETH) is at a crucial crossroads as investors assess the impact of Hong Kong’s recent approval of its first spot

ETF, increased institutional interest, and technical signals hinting at possible short-term recoveries. The cryptocurrency experienced an 18% decline to $3,370 in early October after a broad market downturn linked to a significant political event. However, new on-chain metrics and expert analysis point to growing optimism, according to a .

Hong Kong’s approval of the Ethereum ETF on October 21 brought $141.66 million in new capital, with major inflows from Fidelity’s FETH, BlackRock’s ETHA, and Grayscale. Still, this positive trend was offset by a wider sell-off, as TradingView also reported that Ethereum ETFs worldwide saw $145.6 million in outflows on October 20. Meanwhile, institutional investors such as BitMine took advantage of the price drop, purchasing 63,539 ETH (valued at $251 million) from platforms like Kraken and BitGo, according to a

. Led by seasoned analyst Tom Lee, BitMine now holds 3.29 million ETH—representing 2.73% of the total supply—and is targeting a 5% share. Lee characterizes the current period as an "Ethereum supercycle," forecasting a price range of $10,000–$12,000 by 2025.

Ethereum Updates Today: Institutions Accumulate as Market Uncertainty Looms—Ethereum’s $4K Recovery Faces a Pivotal Moment image 0

Technical analysis shows Ethereum consolidating near important exponential moving averages (EMAs), with the 20-EMA at $3,947 and the 100-EMA at $4,075 serving as significant resistance, according to a

. Since August, ETH has traded within a downward parallel channel, and a recent bounce from the lower edge has caught the attention of market watchers. Crypto analyst Ali Martinez has raised his short-term target to $4,440, while trader Merlijn compared Ethereum’s setup to gold’s 2024 breakout, suggesting ETH could also reach five-figure prices.

Despite recent swings, Ethereum has gained 18.35% so far this year, demonstrating resilience even as it remains 20.12% below its record high of $4,955.23, based on

. On-chain data adds further complexity: futures open interest has climbed to $44 billion, and October saw $97.6 million in ETH withdrawn from exchanges, indicating investors are moving assets to self-custody or staking, as CoinEdition reports. Meanwhile, US-based ETH ETFs continue to see outflows, with Fidelity’s FETH alone losing $77 million on October 24, according to an . This divergence between institutional accumulation and retail caution highlights the mixed sentiment in the market.

Experts remain split on Ethereum’s near-term direction. A move above $4,075 could spark a rally toward $4,476 or higher, while a drop below $3,750 may lead to a test of support at $3,400–$3,450, as noted by CoinEdition. With

holding steady above $110,000 and altcoins like posting modest gains, the overall crypto market is showing cautious optimism, according to FXStreet. However, internal disagreements among Ethereum’s developers—especially regarding governance—are adding uncertainty to its scalability goals.

As these factors play out, Ethereum’s ability to maintain levels above $3,850 will be key. A sustained recovery could revive bullish sentiment, supported by broader economic trends and growing institutional involvement.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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