On October 15, ETH fell to a low of $2,316 and is currently trading in the $2,350–$2,361 range.
It’s down about 6% over the past 24 hours.
From $2,718 (the October 5–6 range) to now, it has fallen about 13% in less than two weeks.
Three layers of pressure are hitting at once:
First layer — CPI came in hotter than expected.
September CPI, released yesterday, was 3.7% year over year, above expectations of 3.6%. FedWatch shows the probability of a rate hike at the October 28 FOMC meeting rising from 22% to 35%. Treasury yields are climbing, the dollar is strengthening, and high-risk assets are under pressure across the board. This is the main driver.
Second layer — continued outflows from ETH ETFs.
Yesterday (October 14), ETH ETFs saw net outflows return: about $130 million. The day before (October 13), they briefly saw $24.8 million in inflows—that was a flash in the pan after ten straight days of outflows, not a trend reversal. Since September 29, ETH ETFs have seen outflows almost every day, totaling more than $542 million. BlackRock’s ETHA alone accounted for about $477 million in outflows.
Third layer — leveraged liquidations triggering a cascade.
CryptoQuant analyst Darkfost reported that Binance liquidated $106 million in ETH long positions within a single hour yesterday—the largest single-hour liquidation event in six months. Total long liquidations across the crypto market reached about $880 million over 24 hours, with ETH longs making up a sizable share.
The current level is critical:
ETH is testing the uptrend line that has been in place since this year’s June low (around $1,506).
$2,300–$2,350 is where that trend line sits, and it’s currently the most important support zone.
If it holds, we’ll see whether ETH can return to $2,400, then $2,500.
If it breaks, the next meaningful support is in the $1,850–$1,950 range—about 20% below current levels.
The daily RSI is approaching 34, close to oversold territory technically, but a low RSI doesn’t automatically mean a rebound.
There’s also a signal that’s getting less attention: Ethereum’s validator exit queue has hit a 10-month high (964,608 validators queued to exit). ETH has typically seen a price correction of some magnitude after large-scale exit events like this—and that’s happening now.
Another long-term concern: ETH’s current burn rate can no longer keep pace with new issuance. Supply is expanding again, and the deflationary narrative has failed.
BTC also fell to around $81,712 over the same period, while SOL is under pressure too.
Whether the $2,300 level holds is the key question to watch over the next few days.
$ETH
#以太坊跌破2400美元
It’s down about 6% over the past 24 hours.
From $2,718 (the October 5–6 range) to now, it has fallen about 13% in less than two weeks.
Three layers of pressure are hitting at once:
First layer — CPI came in hotter than expected.
September CPI, released yesterday, was 3.7% year over year, above expectations of 3.6%. FedWatch shows the probability of a rate hike at the October 28 FOMC meeting rising from 22% to 35%. Treasury yields are climbing, the dollar is strengthening, and high-risk assets are under pressure across the board. This is the main driver.
Second layer — continued outflows from ETH ETFs.
Yesterday (October 14), ETH ETFs saw net outflows return: about $130 million. The day before (October 13), they briefly saw $24.8 million in inflows—that was a flash in the pan after ten straight days of outflows, not a trend reversal. Since September 29, ETH ETFs have seen outflows almost every day, totaling more than $542 million. BlackRock’s ETHA alone accounted for about $477 million in outflows.
Third layer — leveraged liquidations triggering a cascade.
CryptoQuant analyst Darkfost reported that Binance liquidated $106 million in ETH long positions within a single hour yesterday—the largest single-hour liquidation event in six months. Total long liquidations across the crypto market reached about $880 million over 24 hours, with ETH longs making up a sizable share.
The current level is critical:
ETH is testing the uptrend line that has been in place since this year’s June low (around $1,506).
$2,300–$2,350 is where that trend line sits, and it’s currently the most important support zone.
If it holds, we’ll see whether ETH can return to $2,400, then $2,500.
If it breaks, the next meaningful support is in the $1,850–$1,950 range—about 20% below current levels.
The daily RSI is approaching 34, close to oversold territory technically, but a low RSI doesn’t automatically mean a rebound.
There’s also a signal that’s getting less attention: Ethereum’s validator exit queue has hit a 10-month high (964,608 validators queued to exit). ETH has typically seen a price correction of some magnitude after large-scale exit events like this—and that’s happening now.
Another long-term concern: ETH’s current burn rate can no longer keep pace with new issuance. Supply is expanding again, and the deflationary narrative has failed.
BTC also fell to around $81,712 over the same period, while SOL is under pressure too.
Whether the $2,300 level holds is the key question to watch over the next few days.
$ETH
#以太坊跌破2400美元