Ethereum Price Risks $2,000 as ETFs Record $1.61B in Outflows

Key Insights Ethereum price traded near $2,240 after a sustained October decline and weakening ETF demand. Spot Ethereum ETFs recorded approximately $1.61 billion in October outflows, their worst monthly performance. Ethereum faces potential downside toward $2,000, although its reported head-and-shoulders pattern requires confirmation. Ethereum price approached $2,240 on Oct. 31 as institutional demand weakened and selling continued. U.S. spot Ethereum ETFs recorded approximately $1.61 billion in October withdrawals. The decline coincided with falling decentralized finance valuations and renewed concerns about U.S. interest rates. Technical analysis also identified a possible bearish reversal pattern.