Ethereum Faces Selling Pressure as Large Holders Offload Millions and ETF Outflows Mount
Ethereum (BITSTAMP:ETHUSD) dropped 2.80% to $2,426 USD, extending its monthly loss to over 6% as exchange reserves climbed and major investors offloaded tokens. Overall crypto market weakness alongside broader economic and geopolitical tensions has kept buyers cautious.
Supply on exchange platforms grew from about 14.59 million tokens in late September to 14.93 million by mid-October, signaling increased immediate selling pressure. Significant sales by large holders added to the supply, including one major holder realizing roughly $24.48 million in profit from a 9,996 token sale and another depositing 14,000 tokens onto an exchange over recent days. Concurrently, U.S. demand softened, reflected by negative premium readings on major domestic exchanges and U.S. spot exchange-traded funds recording net October outflows near $695.4 million despite a brief single-day pause.
Market participants are watching whether institutional and large-scale buyers re-enter the market. A sustained recovery in token prices likely hinges on a turn toward consistent inflows for spot funds and renewed accumulation by major account holders.
Key points
- Ethereum (BITSTAMP:ETHUSD) dropped to $2,426 USD as exchange reserves expanded from 14.59 million to 14.93 million tokens since late September.
- Major holders transferred and sold tens of thousands of tokens, including an over-the-counter sale of 9,996 tokens for roughly $25 million.
- U.S. spot Ethereum exchange-traded funds experienced nearly $695.4 million in net outflows during October following 10 consecutive days of losses.
- Disparity in exchange trading prices signaled weaker demand from U.S. investors, pushing a key premium index to its lowest level in two months.
Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org
How we writeDisclaimerQuestions and answers
Why is Ethereum price dropping in October 2026?
Ethereum is declining due to rising exchange reserves, profit-taking by large holders, and nearly $695.4 million in net outflows from U.S. spot Ethereum ETFs during October.
How much ETH have spot ETFs lost in October 2026?
U.S. spot Ethereum ETFs recorded 10 consecutive days of outflows totaling about $782.6 million, leaving net October outflows near $695.4 million despite a brief single-day inflow of $24.8 million.
What signals indicate weak U.S. demand for Ethereum?
Weaker U.S. demand is indicated by a negative Coinbase Premium Index reading of about -0.1173, its lowest in two months, showing Ethereum trading at a discount on U.S. exchanges relative to global peers.