On October 23, the price of Ether remained under pressure around $2,400: recovery was complicated by new outflows from ETFs, sales by an early investor, and cautious market sentiment.
According to crypto news, ETH was trading around $2,394.57, approximately 0.25% lower over 24 hours with a trading volume of about $11.62 billion. After pulling back from October highs, Ether has been unable to reclaim $2,500, with buyers attempting to stabilize the price above $2,350. In October, ETH traded in a range of approximately $2,335 to $2,754 and remains below the month's opening level of around $2,685.
Ether's weakness coincided with another round of outflows from U.S. spot ETFs. According to SoSoValue, on October 22, about $110.6 million net left Ethereum-ETFs, with a significant portion from the BlackRock ETHA fund. This continues a challenging period: from October 12 to 16, Ethereum-ETFs lost about $320 million, with nearly $299 million from the BlackRock fund. High oil prices also exerted pressure. Bitcoin held around $81,500.
Ethereum developers postponed the activation of Glamsterdam on the Hoodi test network. The Ethereum Foundation confirmed the delay on October 22 after identifying compatibility issues with EIP-8037 and existing smart contracts. Activation was scheduled for October 26, but the date has been removed pending investigation; the proposal to raise the Hoodi gas limit to 200 million has also been withdrawn. The delay affects the test network, not a failure of the main Ethereum network. A new activation date for Hoodi has not been announced.
Lookonchain reported that an early investor sold 3,000 ETH for approximately $7.2 million, holding the tokens for nearly nine years. The wallet acquired the cryptocurrency for about $56,000 when Ether was below $19; the return was approximately 129x excluding fees.
On the daily chart, ETH was trading at $2,398.79, gaining 0.40% but remaining below $2,500. The RSI was 39.83 with an average of 40.24, Bull Bear Power was −102.25. CryptoBusy analyst identified the support zone as 2350–2,480; recovery above $2,500 opens the path to $2,800, while losing $2,350 threatens a decline to $2,200.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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