ETH fell nearly 6% after the inflation print, more than BTC. Here's what's driving it 👇
📊 Key Stats
🔹 Price: ~$2,430, after a dip to ~$2,360 on Oct 15
🔹 ATH: $4,953.73 (Aug 2025), so ETH is ~51% below the peak
🔹 Down ~39% year-over-year
🔹 Open interest fell to its lowest level since February
⚡ Catalysts
🔹 September CPI came in hot (+0.6% m/m), reviving Fed rate-hike odds
🔹 Spot ETH ETFs have seen outflows for nine straight sessions
🔹 BitMine says it's largely done buying as it nears its 5% supply goal
🔹 One OTC whale fully exited 52,001 ETH with a $24.5M profit, while another rotated BTC into ETH
🔹 VanEck withdrew its Lido staked ETH ETF filing, while Uniswap launched dynamic fees
🎯 Levels to Watch
📉 Support: $2,414 → $2,360 (recent low)
📈 Resistance: $2,501-2,548 → $2,600 → $2,683
🧠 Bottom Line
ETH is trading below its 20-day and 50-day EMAs, so the near-term bias stays bearish. Macro and ETF flows are doing the driving, not the network. Reclaiming $2,500 would be the first sign that sellers are losing control, while a break below $2,360 opens the door to deeper downside.
💬 Is ETH a bargain near $2,400 or a falling knife? Drop your take in the comments! 👇