$ETH is up +3.14% from the Oct 18 low at $2,329.43, now trading at $2,402.55
If you had longed it at the Oct 18 3:00 PM ET low with $100k at 10x, you'd be up +$31,390 right now
Why it moved
Ethereum shook off a rough Thursday. CoinGlass data cited by Invezz showed about $75.4 million in ETH liquidations, roughly $63.7 million of them longs, as Middle East tensions and AI spending worries hit risk assets. Price dipped toward $2,360 and buyers took it straight back above $2,400.
The real story is on the developer side. On Oct 23, CoinDesk reported that core developers postponed the Glamsterdam upgrade on the Hoodi testnet, which was due Oct 26, after ChainSecurity showed that two gas changes, EIP-8037 and EIP-8038, could change how existing contracts handle failed calls.
The bigger thesis
Short term, a delay sounds bearish. Long term, it is exactly what you want from a network securing this much value: find the edge case on a testnet, fix it, then ship. Glamsterdam already went live on Sepolia on Oct 6, and it brings a new builder system plus room for much larger blocks. Holding $2,400 through that headline says a lot about demand.
What I'm watching next
Above: $2,418, the 24-hour high, then $2,526, the Oct 21 weekly high. Below: $2,360, today's low, then the Oct 18 base at $2,329.43. A fresh Hoodi date would be the next catalyst.
Ethereum rewards people who position before the upgrade headlines. My ETH levels land in the Telegram first. Join now.
Still watching from the sidelines?
Every move in this post was there for anyone looking early.
Stop reading recaps after the pump.$ETH
If you had longed it at the Oct 18 3:00 PM ET low with $100k at 10x, you'd be up +$31,390 right now
Why it moved
Ethereum shook off a rough Thursday. CoinGlass data cited by Invezz showed about $75.4 million in ETH liquidations, roughly $63.7 million of them longs, as Middle East tensions and AI spending worries hit risk assets. Price dipped toward $2,360 and buyers took it straight back above $2,400.
The real story is on the developer side. On Oct 23, CoinDesk reported that core developers postponed the Glamsterdam upgrade on the Hoodi testnet, which was due Oct 26, after ChainSecurity showed that two gas changes, EIP-8037 and EIP-8038, could change how existing contracts handle failed calls.
The bigger thesis
Short term, a delay sounds bearish. Long term, it is exactly what you want from a network securing this much value: find the edge case on a testnet, fix it, then ship. Glamsterdam already went live on Sepolia on Oct 6, and it brings a new builder system plus room for much larger blocks. Holding $2,400 through that headline says a lot about demand.
What I'm watching next
Above: $2,418, the 24-hour high, then $2,526, the Oct 21 weekly high. Below: $2,360, today's low, then the Oct 18 base at $2,329.43. A fresh Hoodi date would be the next catalyst.
Ethereum rewards people who position before the upgrade headlines. My ETH levels land in the Telegram first. Join now.
Still watching from the sidelines?
Every move in this post was there for anyone looking early.
Stop reading recaps after the pump.$ETH