The US spot Ethereum ETF saw a net outflow of $118 million in a single week, yet ETH is still pinned above $2,700—those who are selling are taking profits, while those who are buying are betting on next week.
First, the numbers (CoinGecko, Oct 4):
1️⃣ ETH is around $2,695, up 0.7% over 24 hours, basically flat on the week; it’s been trading in a tight intraday range of 2,678–2,697, with a market cap of about $328 billion.
2️⃣ US spot Ether ETFs recorded net outflows of about $118 million from Sep 28 to Oct 2 (Farside: $59.60 million on Sep 30, $55.40 million on Oct 1, $17.30 million on Oct 2), compared with a net inflow of $690 million in the prior week. Meanwhile, Bitcoin ETFs are still seeing purchases.
3️⃣ Two catalysts next week: at 13:53:36 UTC on Oct 6, the Gl(amsterdam) upgrade gets activated on the Sepolia testnet (note: testnet, not mainnet); and on Oct 1, Citigroup raised its 12-month target price for ETH from 2,240 to $3,028 (12-month horizon—not the Oct target).
My take: after ETH gained 32.6% in August and 8.8% in September—up more than 44% over two months—the ETF only started to see net outflows, yet the price hasn’t broken down. This selling pressure looks more like profit-taking than a full exit. The logic of ETH’s real buyers has already shifted to the “upgrade narrative + on-chain follow-through,” and ETF flows have temporarily gone quiet. But expectations have been priced in as well: the whole market is watching the 2,800 line right now. If you chase once price is truly above $3,000, you’d essentially be taking the profits from the prior 44% rally.
Three scenarios (worded as triggers, not predictions):
A. Momentum returns: weekly closes recover and hold above 2,775–2,800 → opens 2,900–3,050;
B. Continued range trading: repeated attempts to break above 2,800 fail → grind within 2,500–2,800;
C. Weakness signal: breaks below 2,560 and turns weak; 2,400–2,500 is the lower edge of the rising channel; further down to 2,350–2,360 is the alert zone.
Risk warning: the monthly MACD hasn’t crossed bullish yet, RSI is only just above the midline at 51.5, so momentum isn’t strong. The 3x Ether ETF that the SEC just approved is merely a listing/exchange rule approval—not the product being issued—don’t treat it as a buy catalyst.
$ETH $BTC
#Ethereum3000Attempt
Data as of 2026-10-04 15:15 UTC
Sources: crypto.news; Pluang
For information sharing only and does not constitute investment advice.
I’ll keep tracking this kind of market. Follow me so you don’t get lost.
Do you think ETH in October can hold above $3,000?
First, the numbers (CoinGecko, Oct 4):
1️⃣ ETH is around $2,695, up 0.7% over 24 hours, basically flat on the week; it’s been trading in a tight intraday range of 2,678–2,697, with a market cap of about $328 billion.
2️⃣ US spot Ether ETFs recorded net outflows of about $118 million from Sep 28 to Oct 2 (Farside: $59.60 million on Sep 30, $55.40 million on Oct 1, $17.30 million on Oct 2), compared with a net inflow of $690 million in the prior week. Meanwhile, Bitcoin ETFs are still seeing purchases.
3️⃣ Two catalysts next week: at 13:53:36 UTC on Oct 6, the Gl(amsterdam) upgrade gets activated on the Sepolia testnet (note: testnet, not mainnet); and on Oct 1, Citigroup raised its 12-month target price for ETH from 2,240 to $3,028 (12-month horizon—not the Oct target).
My take: after ETH gained 32.6% in August and 8.8% in September—up more than 44% over two months—the ETF only started to see net outflows, yet the price hasn’t broken down. This selling pressure looks more like profit-taking than a full exit. The logic of ETH’s real buyers has already shifted to the “upgrade narrative + on-chain follow-through,” and ETF flows have temporarily gone quiet. But expectations have been priced in as well: the whole market is watching the 2,800 line right now. If you chase once price is truly above $3,000, you’d essentially be taking the profits from the prior 44% rally.
Three scenarios (worded as triggers, not predictions):
A. Momentum returns: weekly closes recover and hold above 2,775–2,800 → opens 2,900–3,050;
B. Continued range trading: repeated attempts to break above 2,800 fail → grind within 2,500–2,800;
C. Weakness signal: breaks below 2,560 and turns weak; 2,400–2,500 is the lower edge of the rising channel; further down to 2,350–2,360 is the alert zone.
Risk warning: the monthly MACD hasn’t crossed bullish yet, RSI is only just above the midline at 51.5, so momentum isn’t strong. The 3x Ether ETF that the SEC just approved is merely a listing/exchange rule approval—not the product being issued—don’t treat it as a buy catalyst.
$ETH $BTC
#Ethereum3000Attempt
Data as of 2026-10-04 15:15 UTC
Sources: crypto.news; Pluang
For information sharing only and does not constitute investment advice.
I’ll keep tracking this kind of market. Follow me so you don’t get lost.
Do you think ETH in October can hold above $3,000?
