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>>Ethereum's price may rise following a significant $421 million investment into exchange-traded funds and a decrease in the amount of Ethereum held on exchanges.

Ethereum's price may rise following a significant $421 million investment into exchange-traded funds and a decrease in the amount of Ethereum held on exchanges.

crypthub

4 days ago

Ethereum ETF Inflows and Supply Dynamics

Spot Ethereum ETFs saw substantial inflows of $421 million on October 7th, marking seven consecutive days of institutional buying. This activity is tightening the circulating supply, contributing to consolidation near $4,450 and supporting potential recovery towards $4,900–$5,000. Combined ETF holdings have now exceeded $30 billion, with significant additions in recent months.

Reduced Exchange Reserves

Ethereum's available supply is significantly constrained, with exchange reserves falling to 17.4 million ETH—the lowest level since 2022. This reduction aligns with increasing institutional and corporate accumulation, further tightening the supply available for trading. This trend indicates a diminished level of readily available ETH.

Technical Outlook and Key Levels

Trading volume increased, with futures volume showing increased leveraged positions. Ethereum's price is currently around $4,443, consolidating after a recent dip. Support lies near $4,313, while resistance is found around $4,731; a move above $4,700 could signal a potential retest of the $4,900–$5,000 range.