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Ethereum under pressure: US investors are losing interest in ETH!
Ethereum price movement on October 31, 2025: US demand falls, possible move lower to $3,500 and market analysis.
Ethereum under pressure: US investors are losing interest in ETH!
Ethereum price is showing signs of weakness as interest from US investors has waned. Currently, the price of Ethereum (ETH) is at $3,820, raising concerns about a potential decline to $3,500. This development is influenced by several factors that indicate overall subdued market demand. FXStreet reports, that the Ethereum Coinbase Premium Index, which measures the difference between the ETH price on Coinbase and other exchanges, fell to -2.8%. This indicates reduced spot demand.
Additionally, since October 8, US spot Ethereum ETFs were found to have had a net outflow of 158,374 ETH, totaling $184.2 million in outflows through Thursday. Most of these outflows come from BlackRock's iShares Ethereum Trust. These recent developments are a clear indicator that investors are cautious and potentially realizing profits.
Market analysis and technical indicators
Analysis of the US ETH futures market also shows reduced exposure as the annualized basis of ETH CME futures fell to 3.0% – one of the lowest levels since the end of July. Market observers point out that this phase is characterized by profit-taking and cautious positioning rather than accumulation. There is also evidence that Ethereum whales, i.e. wallets with 10,000 to 100,000 ETH, have increased their accumulation of ETH again in recent days, with more than 210,000 ETH being added from Sunday to Thursday.
Ethereum open interest on global exchanges rose from 11 million ETH to 12.4 million ETH before experiencing a slight decline. Within the last 24 hours, ETH experienced $126.3 million in liquidations, with long positions accounting for $99.5 million. Currently, ETH is at a critical juncture as a break below $3,700 could see it drop to $3,470, while a historical support area can be found around $2,850.
Market forecasts and future movements
For a potential upward move, ETH needs to clear the upper boundary of the descending channel to test the resistance level at $4,800. Technical indicators such as the Relative Strength Index (RSI) indicate a bearish trend, while the Moving Average Convergence Divergence (MACD) histograms are below neutral levels, indicating predominantly bearish momentum. Investors are therefore encouraged to closely monitor market developments.