Ethereum

random

Spot

Ethereum (ETH) has registered a 10% price increase in the past week but remains below its historic peak of almost $5,000.
Three key indicators suggest it may reach and even surpass that milestone in the short term.
<h2 id="the-bullish-scenario">The Bullish Scenario</h2>
The popular X user Ali Martinez <a href="https://x.com/ali_charts/status/1974822127544205430" rel="noopener noreferrer nofollow">revealed</a> that whales have acquired 800,000 ETH over the past week. The stash exceeds $3.6 billion, and this cohort of investors now holds 31.17 million tokens, representing 25% of the asset’s circulating supply.
Numerous users commenting on the post argued that a buying wave of this magnitude is rarely random and often signals that smart money is positioning for a potential rally ahead. Others speculated that the whales might “know something we don’t,” which could explain their recent efforts.
From an economic standpoint, accumulating such a vast amount of tokens reduces the available supply on the open market. When this limited supply meets steady or growing demand, it naturally sets the stage for a potential price surge.
The second factor is the increased interest in spot ETH ETFs. Those products have attracted over $1 billion in capital since the beginning of the month, signaling that institutional investors are steadily increasing their exposure to the asset.
<figure style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2025/10/ETH-Spot-ETFs.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2025/10/ETH-Spot-ETFs.png" alt="Spot ETH ETF Inflows" width="1782" height="500"></a>
 <figcaption>
 Spot ETH ETF Inflows, Source: SoSoValue
 </figcaption>
</figure>
Let’s now take a look at the amount of ETH stored on crypto exchanges. The figure recently plummeted to a nine-year low of around 16.1 million coins, indicating that investors are less likely to cash out and seek profits, and instead move their holdings to self-custody methods. This results in reduced selling pressure.
<figure style="width: 100%" class="wp-caption aligncenter">
 <a href="https://cryptopotato.com/wp-content/uploads/2025/10/ETH-Exchange-Reserves.png" rel="noopener noreferrer nofollow"><img src="https://cryptopotato.com/wp-content/uploads/2025/10/ETH-Exchange-Reserves.png" alt="ETH Exchange Reserves" width="1517" height="615"></a>
 <figcaption>
 ETH Exchange Reserves, Source: CryptoQuant
 </figcaption>
</figure>
<h2 id="something-for-the-bears">Something for the Bears</h2>
Contrary to the overall enthusiasm across the crypto community and the aforementioned factors that suggest ETH might be on the verge of a major pump, some elements are hinting at a possible pullback.
Earlier today (October 6), Ali Martinez <a href="https://x.com/ali_charts/status/1975160859283620109" target="_blank" rel="noopener noreferrer nofollow">claimed</a> that the TD Sequential has flashed a sell signal at a key resistance of a little over $4,500. He believes a rejection at that point could be followed by a drop to $4,100 or even $3,780.
The post <a href="https://cryptopotato.com/3-reasons-why-ethereum-eth-could-hit-a-new-ath-this-uptober/" rel="noopener noreferrer nofollow">3 Reasons Why Ethereum (ETH) Could Hit a New ATH This ‘Uptober’</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

3 Reasons Why Ethereum (ETH) Could Hit a New ATH This ‘Uptober’

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