I thought I’d just have to tough it out through October and it’d be over.
But when I checked at the end of the month, I barely dared to open my own account, $ETH 🥲
ETH is down 13.6% so far this October.
It’s heading for its worst October since 2018.
It’s hovering around 2,320 now, and analysts are all watching the 2,295 level.
What really stings is the money flow.
U.S. spot ETH ETFs saw net outflows on 17 of the 20 trading days this month.
That adds up to about $1.35 billion—the second-largest monthly outflow on record 📉
And on-chain, a bunch of wallets that had been dormant for years have woken up.
Since October 5, they’ve moved out 56,000 ETH.
The biggest transfer was 13,330 ETH sent to Coinbase from an address involved in the 2015 ICO 👀
I stubbornly said ETH wouldn’t look too bad in October.
Now all I can do is scrape together a little consolation 😂
Let’s see if 2,295 can hold. I’ll keep watching for a bit before making any calls.
But when I checked at the end of the month, I barely dared to open my own account, $ETH 🥲
ETH is down 13.6% so far this October.
It’s heading for its worst October since 2018.
It’s hovering around 2,320 now, and analysts are all watching the 2,295 level.
What really stings is the money flow.
U.S. spot ETH ETFs saw net outflows on 17 of the 20 trading days this month.
That adds up to about $1.35 billion—the second-largest monthly outflow on record 📉
And on-chain, a bunch of wallets that had been dormant for years have woken up.
Since October 5, they’ve moved out 56,000 ETH.
The biggest transfer was 13,330 ETH sent to Coinbase from an address involved in the 2015 ICO 👀
I stubbornly said ETH wouldn’t look too bad in October.
Now all I can do is scrape together a little consolation 😂
Let’s see if 2,295 can hold. I’ll keep watching for a bit before making any calls.
