Ethereum's October Record Under Scrutiny as Price Remains Below Record High

The Ethereum price has a reputation for performing well in October, but the past two years have been an exception. Since 2018, five out of eight Octobers have ended with a gain for Ether, with the standout being 2021 with a 42.9% increase. However, the last two Octobers, 2024 and 2025, saw a decline of 3.2% and 7.2% respectively. The current Ethereum price is around $2,690, and the Sepolia testnet will be upgraded on October 6, but this will not affect the main network. The fund flows also argue against a positive trend, with the US spot ETFs on Ether losing money at the end of September and on October 1. Ether is still 46% short of its record high of $4,946 set in August 2025.

The Ethereum price will need to breach the upper level of $2,775 or fall below the support level of $2,645 for a clear trend to emerge. The Ethereum Foundation has not yet set a date for the main network upgrade, and a smooth test run is still required. Anyone holding Ether for the long term can stake the coins and earn a running return, but gains on Ether held for less than a year are taxable on sale in Germany once the annual allowance of €1,000 is exceeded.