Ethereum shows bullish sentiment with 2.05 ratio while Bitcoin and XRP decline; spot ETH ETFs see $24.84M inflow but overall investor demand weakened.
Macro & Markets ·
Ethereum has surged ahead in trader sentiment, registering a 2.05 ratio of bullish-to-bearish comments across social platforms, while Bitcoin and XRP have lost momentum with ratios of 0.82 and 0.92 respectively. The strength in Ethereum reflects traders' focus on staking activity and upcoming protocol changes as the asset holds above critical support levels. By contrast, Bitcoin faces headwinds from repeated rejections near $87,000 and sharp selloffs toward $81,000, alongside heavy liquidations in long positions.
One analyst has charted a long-term price target of $15,000 for Ethereum in the current bull cycle, with intermediate waypoints at $3,270, $4,892, and $10,000, contingent on Ethereum sustaining key support and clearing resistance hurdles. A decisive move above $4,892 could signal the start of a broader advance. CryptoPotato reported that spot Ethereum ETFs recorded $24.84 million in inflows on a single day in October after a ten-day withdrawal streak, with Grayscale's fund contributing $16.3 million and Fidelity's adding $8.11 million.
The rebound in daily inflows has done little to offset the broader pullback. Spot Ethereum ETFs have posted approximately $695 million in net outflows across October as investor demand remains constrained. Spot Bitcoin ETFs, by contrast, attracted $175.6 million over the same period, while XRP funds saw no movement for three consecutive days.