Ethereum (ETH) extended its October advance, hovering near $4,716 after a four‑percent daily rise, according to CoinMarketCap data. The latest move adds roughly 11% week‑to‑date gains as ETF inflows and improved technical indicators support buying sentiment.
Spot ETF inflows support momentum
SoSoValue ETF Tracker data show approximately $1.47 billion in cumulative inflows to U.S.‑listed spot Ethereum ETFs over the past six trading days, including $177 million on the latest session. The sustained activity follows a quieter September and signals renewed institutional allocation.
Ethereum’s market capitalization is now about $570 billion, with 24‑hour trading volume near $40 billion.
Technical context and key levels
TradingView data indicates ETH has broken above the 30‑day simple moving average (SMA) around $4,330, suggesting short‑term trend improvement.
- The Relative Strength Index (RSI) around 44‑50 shows reduced selling momentum compared with last week’s lower readings.
- Near‑term resistance sits around $4,700 - $4,750; a sustained close above this range could test $4,950 - $5,000.
- Downside supports remain at $4,100 - $4,200 and $3,800.
These readings reflect technical conditions only and do not guarantee future price behavior.
Institutional holdings and market developments
BitMine Immersion Technologies (BMNR) has added 179,251 ETH, bringing total holdings to about 2.83 million ETH, or roughly 2.3% of circulating supply, per its October 6 corporate filing. BitMine now surpasses SharpLink Gaming PLC in reported Ethereum reserves.
Separately, Grayscale introduced staking functionality to its approved spot ETH ETFs , Grayscale Ethereum Trust (ETHE) and Grayscale Ethereum Mini Trust (ETH), allowing investors to participate in on‑chain validation rewards within U.S.‑regulated vehicles.
According to Grayscale’s public statements, its Ethereum ETFs recorded $1.3 billion in net inflows last week, the fourth‑highest total on record.
Market outlook: strong but cautious
Several publicly named analysts cited in widely available market reports from Bloomberg Intelligence argue that sustained institutional flows could encourage retesting of previous highs, provided broader risk appetite remains steady.
However, these same reports emphasize volatility risks: a sharp reversal in ETF inflows, regulatory headwinds, or renewed macro pressure could easily push ETH back toward $4,000 or below before any longer‑term advance resumes.
Long‑range targets such as $10,000 remain highly speculative and depend on multiple uncertain variables, including global monetary conditions, adoption of Ethereum Layer 2 solutions, and network‑fee dynamics.
Risk disclosure
Cryptocurrency investments carry substantial risk, including the possible loss of principal. Prices are extremely volatile and past performance does not guarantee future results. Nothing in this article constitutes financial or investment advice. Readers should conduct their own research and, where appropriate, consult a qualified financial professional before making investment decisions.
Editorial transparency
The author holds no direct financial interest in Ethereum, Grayscale products, BitMine Immersion Technologies, or any other companies mentioned. This article is produced for informational and educational purposes and complies with newsroom standards for independence and accuracy.
Oleksii Shumak
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