Ethereum broke out of its two-week trading band with the short-term trend now favoring sellers. The $2,565 support level is critical: holding could allow a recovery toward $2,625-$2,650, while a breakdown would expose $2,500 and then $2,380-$2,400. BitMine announced it will stop open-market ETH purchases once it reaches 5% of circulating supply, needing only 100,000 more ETH. ETF flow data confirms this bearish pressure: BlackRock saw $201.89 million in outflows from ETHA on October 6th, versus $122 million in inflows for its Bitcoin ETF IBIT. Finally, security researchers including Ethereum Foundation’s Justin Drake warn that AI could weaken Ethereum’s ECDSA cryptographic protocol sooner than expected.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
