The crypto market today is buzzing as the Ethereum (ETH) price edges closer to the $4,300 mark amid renewed bullish momentum and strong on-chain activity. However, analysts caution that a decisive monthly close above key resistance levels is essential to confirm the breakout and sustain upward momentum. With Bitcoin consolidating near local highs, investor attention has shifted toward Ethereum’s potential rally—positioning November as a make-or-break month for ETH’s long-term bullish trajectory.
Is the Capital Migrating from Ethereum to Bitcoin?
In the past week, specifically after the 20th of October, the Bitcoin ETF inflows have been steadily increasing, absorbing $446 million. However, the Ethereum ETF experienced a $244 million outflow led by Fidelity’s FETH with nearly $92.25 million. Interestingly, none of the nine ETH ETFs posted a net inflow. This indicates consolidation more than rotation, as every dollar leaving Ethereum could have found its way into Bitcoin’s vault.
Bitcoin has become the global liquidity sink and the black hole of the capital trust, as it doesn’t promise yield but permanence. This suggests the institutions are not betting against innovation but rather chasing immutability, as BTC doesn’t promise yield but permanence.
Can the ETH Price Rise Above $4,300 Amid Outflows?
Ethereum price has been consolidating between $3,682 and $4,300 since the start of the month and as the markets are approaching the month-end, a major breakout is awaited. The price, after the freefall from $4,732, is facing strong resistance at $4,271 which is the neckline of the double-bottom pattern. Currently, the ETH price is facing a similar action yet again, which raises concern over the next price action.
As seen in the above chart, the ETH price is trading below the Ichimoku cloud, suggesting the bearish influence over the token. On the other hand, the CMF undergoes a parabolic recovery from 0, hinting towards a significant influx of buying volume. However, the levels are yet to rise above the ascending trend line that keeps the possibility of trend reversal open. Therefore, the ETH price appears to have entered a decisive phase, as a rise above the neckline at $4,271 could push the levels to $4,500 or above. Meanwhile, a rejection from here could keep the price within the consolidated zone mentioned above.
Therefore, Ethereum’s current price action holds significant importance for the coming weeks. A decisive breakout above $4,300 could trigger a surge in liquidity, attracting strong buying interest and accelerating bullish momentum toward $4,800 and beyond. Such a move would greatly increase the likelihood of Ethereum reaching the $5,000 milestone before the end of 2025. However, analysts emphasize that a monthly close above $4,300 remains critical to validate the breakout and confirm the continuation of the long-term uptrend.
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