Ethereum Price Dives to New Lows as Institutional Money Exits
The Ethereum price has fallen to its lowest level since September 20, closing at $2,669 on October 2, 2026. This comes as institutional money leaves Ether, with US spot Ether ETFs experiencing net outflows of $55.4 million on October 1, followed by two more days of outflows, totaling $118 million.
The Bitcoin funds, on the other hand, took in $102.7 million on the same day. While the outflows are small compared to September, when $832 million flowed into Ether funds, the current trend is a warning sign for Ethereum's price prediction.
The 50-day and 200-day averages, calculated from daily closing prices, sit at around $2,465 and $2,315, respectively. A daily close above $2,775 would indicate a break in the sideways phase, while a close below $2,645 would end the sideways phase to the downside.
The Ethereum price is still around 46% short of its record high from August 2025, and a re-rating from outside, with US bank Citi raising its twelve-month price target for Ether to $3,028, may not be enough to give the price a tailwind.