Currently trading above $4,000, the price of Ethereum is entering a make-or-break moment as corporate treasuries increase accumulation and retail ETF flows show signs of cooling.
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While the U.S. spot Ethereum ETF recorded outflows of approximately $555 million for the second week in a row, a major corporate buyer stepped in, purchasing 19,271 ETH ($78.3 million) and bringing total holdings to over 859,000 ETH.
Institutional Accumulation and ETF Outflow
The spot Ethereum ETF recorded redemptions for two consecutive weeks from October 20th to 24th, with approximately $243.9 million being withdrawn in the most recent week alone.
Notable outflows came from major funds. Fidelity's FETH recorded redemptions of approximately $95.2 million, BlackRock's ETHA recorded approximately $89.1 million, and Grayscale's ETHE and ETH each recorded additional outflows.
Likewise, corporate treasuries are doubling down. The company, which recently purchased $78 million, added to its ETH holdings as the price recovered above $4,200, showing strong confidence that ETH is a long-term asset.
The data suggests a clear market divergence, with retail and institutional ETF demand weakening even as direct corporate capital accumulation accelerates. Crucially, institutions now hold nearly 4.94% of all ETH in circulation through treasuries, supporting a structural change in ownership.
Ethereum Price Chart Settings: Focus on $4,300 Resistance
Technically, Ethereum price is testing a critical point. After rebounding from $3,880 and clearing resistance near $4,200, ETH is now positioned at the upper boundary of a narrowing wedge between $4,100 and $4,250.
A sustained break above $4,300 could trigger a sharp rally towards $4,600-$5,000. Conversely, if it fails to break the resistance line, it may fall to $3,700.
Derivatives and liquidity data amplify stakes. ETH futures open interest has surged 11.7% in 24 hours, with the build-up of leverage indicating strong positioning ahead of a change in direction.
Given the structural backdrop of massive treasury accumulation and weakening ETF flows, the $4,300 level may represent not just a technical level but a turning point where institutional accumulation meets broader market sentiment.
ETH's price trends to the upside on the daily chart. Source: ETHUSD on Tradingview
conclusion
With institutional growth growing and retail/ETF flows weakening, the price trajectory of Ethereum will crucially depend on whether it can break $4,300. Closing above that level can validate the cumulative narrative and achieve higher goals, while rejecting it risks restarting integration or triggering deeper adjustments.
ChatGPT, ETHUSD cover image by Tradingview
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