Arthur Hayes, Maelstrom’s chief investment officer, sold 6,400 ETH worth $15.2 million, along with positions in Ethena, Uniswap, EtherFi, Aerodrome and Zama, for a total of $22.28 million. ETFs tracking ETH recorded $1.1 billion in outflows in October, compared with $313 million for BTC, making it the second-worst month since their debut. Bitmine now holds 6.053 million ETH, or 99% of its target, which could reduce an important source of demand. If macroeconomic and geopolitical concerns persist, a break of the $2,300-$2,400 support zone could leave Ethereum vulnerable to a decline toward $2,200 or $2,100.
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