Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Ethereum Heads for Worst October Since 2018 as Early Whales Wake Up

Source Beincrypto

Ethereum (ETH) is losing support from new money and old money at the same time this October. US spot ETFs have shed about $1.35 billion, while wallets dormant for years moved over $140 million in ETH.

The price has dropped 13.6% this month so far. That puts Ethereum on course for its weakest October since 2018.

Wallets From Ethereum’s First Days Start Moving Again

On-chain analytics platforms flagged over 10 large transfers from long-idle wallets between October 5 and 29. Together, they moved about 56,000 ETH.

Four of the 5 largest went straight to Coinbase or Kraken.

The largest came on October 5, when one wallet sent 13,330 ETH, about $36.37 million, to Coinbase. Its owner reportedly bought 170,000 ETH in the 2015 ICO at $0.31.

Three days later, Lookonchain reported that pinosaur.eth unstaked 9,618 ETH and deposited it to Kraken. Separately, wallets reportedly linked to the Ethereum Foundation moved about 14,770 ETH on 3 separate days.

The latest move came on October 29. A wallet idle for 3 years sent its full 2,119 ETH balance to Coinbase.

Many Ethereum OGs are waking up and dumping $ETH!After 3 years of inactivity, an Ethereum OG wallet (0x6D30) deposited all 2,119 $ETH ($4.99M) into #Coinbase 7 hours ago.https://t.co/qPlh5BQbHj pic.twitter.com/TNR2xmTZ7k
— Lookonchain (@lookonchain) October 29, 2026

An exchange deposit leaves coins ready to sell, though on-chain data cannot show whether a sale followed.

ETF Money Kept Walking Out of Ethereum All October

The whale transfers landed while ETF investors were also pulling back. US spot Ethereum ETFs posted net outflows on 17 of October’s 20 trading days through October 28, per SoSoValue.

US Spot Ethereum ETF Daily Net Flows. Source: SoSoValue

The month’s total reached about $1.35 billion, the second-largest monthly outflow on record. Only November 2025 saw more, at $1.42 billion.

That leaves October about $78 million short of the record, with 2 trading days left. The heaviest single day came on October 6, when $201.89 million left the funds.

ETH traded at $2,328.57 at press time, down 0.95% over 24 hours, per BeInCrypto Markets. The asset closed 7 of its previous 11 Octobers higher, per CryptoRank. Its last deeper October drop came in 2018, at 15.5%.

Ethereum Monthly Returns Heatmap. Source: CryptoRank

The Levels Ethereum Needs to Hold Into November

With fund money leaving and old coins reaching exchanges, analysts have turned to support levels. Ted Pillows expects one more drop.

$ETH looks like it wants to dump more.No strong buying, and every support zone is getting lost.IMO, Ethereum could revisit the $2,200 level soon, which will most likely be the bottom zone. pic.twitter.com/dyEc0RjQUT
— Ted (@TedPillows) October 27, 2026

He added that reclaiming $2,400 would be the first major sign of strength. More Crypto Online expects another leg down while ETH stays below $2,522. A break under $2,295 would be the first sign, with support from $2,207 to $1,725.

ETH fell in 6 of 11 Novembers, with a median loss of 5.18%, per CryptoRank. However, the November average reads +4.28%.

Traders will likely watch whether ETF outflows slow and whether ETH holds above $2,295.

Subscribe to our YouTube channel to watch leaders and journalists provide expert insights

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Big Tech's $800 billion AI bill faces its first real test — free cash flow is the judge Alphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.

Author Irene Q.

Oct 26, Mon

Alphabet and Microsoft report after the close on October 28, Amazon on October 29, with hyperscaler AI capex running near $800 billion a year. Meta's negative free cash flow and 9.40% drop on October 22 was the warning; this week's prints decide whether cloud growth and backlog can pay for the buildout. Here are the consensus numbers, the free-cash-flow table and the two-sided test.

Anthropic files for a $2 trillion IPO — the $80.7 billion loss is the decoy, the $450 billion compute bill is the risk Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.

Author Irene Q.

Oct 27, Tue

Anthropic publicly filed its S-1 on October 26, revealing $16.29 billion of first-half revenue (+1,304% year over year) and a $80.7 billion net loss — of which $72.4 billion is a non-cash convertible-note charge. The real number is the $450 billion of signed, mostly non-cancelable compute commitments. Here is what the filing says, why NVDA, ARM and MU are the tradeable read-through, and the conditions that decide whether the AI trade passes its first public valuation test.

Fed October Rate Decision Preview: Rate Hike Pause Has Become Consensus, How Will US Stocks, Dollar, and Gold React?The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide

Author TradingKey

Oct 27, Tue

The Federal Reserve will announce its October interest rate decision at 14:00 Eastern Time on October 28, and Fed Chair Warsh will hold a press conference at 14:30. Markets currently wide

Brent's $115 front month sits $4.6 above January — the $14 spread to WTI is the supply-risk premium December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Author Irene Q.

Yesterday 06: 21

December Brent trades at $115.29 while January is $110.71, a $4.58 backwardation. The December Brent-WTI spread is $14.2, versus a $3-5 normal. That gap, not the headline, is where the Middle East supply risk is priced. Here is what the curve says, why the December contract's expiry on October 30 will mechanically cut the headline by $4.6, and the 108.81 neckline that decides the next move.

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 29, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 29, 2026. Read on for the details.

Author Mitrade

7 hours ago

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 29, 2026. Read on for the details.

Popular Symbols