TLDR
- Ethereum rose about 1.1% to near $2,270 on November 1, while Bitcoin moved toward $78,000.
- U.S. spot Ethereum ETFs saw $155.7 million in outflows on October 30, the fifth straight day of withdrawals.
- Iran says talks are ongoing to reopen the Strait of Hormuz within 48 hours if the U.S. accepts its conditions.
- CryptoQuant data shows 43.8 million ETH staked, about 35.9% of supply.
- Analysts are watching $2,250 support and $2,300 resistance.
Ethereum price rose about 1.1% to near $2,270 on November 1. The move came as Bitcoin climbed toward $78,000 after last week’s sell-off.
The recovery follows several weak sessions that pushed ETH close to $2,200. The drop came after the October 29 Binance security breach.
Binance has since restored withdrawals. It says about 95% of affected assets have been replenished, and it plans to cover the stolen funds itself.
ETF Outflows Continue
Data from Farside Investors shows U.S. spot Ethereum ETFs lost $155.7 million on October 30. It was the fifth straight session of net withdrawals.
BlackRock’s ETHA led with $76.6 million in outflows. Grayscale’s Ethereum Mini Trust lost $34.1 million, and its ETHE product lost $21.5 million.
Across October 26–30, outflows totaled $431.4 million. The prior five-session period saw $220.7 million leave.
Staking has moved the other way. CryptoQuant analyst theophiluspep reported that 43.8 million ETH is staked, about 35.9% of circulating supply. The network has roughly 814,000 active validators.
Derivatives traders are leaning cautious. Analyst Ted Pillows noted that Ethereum’s funding rate fell to its lowest level since June’s market bottom. Negative funding can point to heavier short positioning, but it does not guarantee a short squeeze.
On the bullish side, Ash Crypto posted that a whale bought $62 million worth of ETH in one day.
WHALES ARE ACCUMULATING ETH.
A whale has bought $62 million worth of $ETH today. pic.twitter.com/L8l5EeQMgn
— Ash Crypto (@AshCrypto) November 2, 2026
Iran Talks and Technical Levels
Iranian Foreign Minister Abbas Araghchi said talks are underway with Qatari mediators. The plan would reopen the Strait of Hormuz within 48 hours if the U.S. accepts Iran’s conditions.
Bull Theory listed those conditions. They include lifting sanctions, reducing U.S. military presence, restoring oil waivers, and releasing frozen funds. Iran also wants its new Iran-Oman shipping route recognized and an end to fighting on all fronts, including Israeli attacks on Lebanon.
The talks remain conditional, so a reopening is not confirmed.
ETH’s daily chart shows lower highs and lower lows since the decline from around $2,750. The Relative Strength Index is 34.15, near the oversold level of 30.
The MACD sits at -70.23, below its signal line at -61.05. The histogram reading of -9.18 suggests bearish momentum may be easing.
Analyst Michaël van de Poppe called the current zone a possible buying area. He said reclaiming $2,300 would be bullish, though a drop below $1,850 is possible if the market fails to recover.
Once $ETH breaks above $4K, the monster pump will start.
$13K-$15K ETH will happen this cycle. pic.twitter.com/oCOSdWbsyQ
— Ted (@TedPillows) October 31, 2026
Ted Pillows warned that a weekly close below $2,250 could add pressure. Losing that level could expose $2,200 and then $2,000. A move above $2,300 would bring $2,400–$2,450 into view.
Traders are also watching the November 3 U.S. midterm elections and the November 6 jobs report. Ethereum was trading near $2,270 on November 1.
