The Ethereum price dropped nearly 25% this quarter, slipping to lows around $3,099 before stabilizing around $3,300 amid broad market weakness and rising U.S.\u2013China trade tensions.<\/p>\n
Data from Lookonchain revealed that three new wallets withdrew 4,920 ETH (worth $16.25 million) from Tornado Cash, a move coinciding with a 13% weekly price drop.<\/p>\n
Analysts linked the pattern to large-scale repositioning by whales, with some addresses previously associated with HEX founder Richard Heart, who reportedly transferred over 162,000 ETH ($619 million) into Tornado Cash earlier this year.<\/p>\n
Despite the sell-off, the Crypto Fear & Greed Index<\/a> remained in \u201cExtreme Fear\u201d at 21\/100, a sentiment level that historically aligns with market bottoms. Analysts at Santiment observed a sharp pivot in trader sentiment, noting that bullish commentary on ETH outnumbered bearish posts by nearly three to one.<\/p>\n\n Institutional data paints a more resilient picture. SharpLink, a Nasdaq-listed firm, generated $100 million in annualized yield through Ethereum staking after accumulating 859,853 ETH valued at $2.9 billion.<\/p>\n The company\u2019s success has fueled a new \u201cproductive ETH\u201d narrative, positioning Ethereum as a yield-bearing treasury asset rather than a speculative one.<\/p>\n Market strategist Kyle Reidhead described SharpLink\u2019s yield as \u201ca $100 million plus compounding revenue stream that works in all market conditions,\u201d projecting Ethereum\u2019s staking advantage over Bitcoin\u2019s static balance sheet model.<\/p>\n On-chain analysts expect similar strategies from firms like Bitmine, JPMorgan, and other institutional players following the SEC\u2019s approval of ETH staking ETFs<\/a> earlier this year.<\/p>\n Meanwhile, U.S. spot ETH ETFs recorded $12.5 million in inflows on November 6, ending a six-day outflow streak and lifting total assets under management to $21.75 billion, about 5.4% of Ethereum\u2019s market value.<\/p>\n Technical Indicators Suggest a Potential Ethereum Price Rebound Toward $3,900\u2013$5,000<\/strong><\/p>\n From a technical standpoint, the Ethereum price is hovering around the $3,200\u2013$3,350 support range, a zone many analysts, including Micha\u00ebl van de Poppe, call a \u201cprime accumulation area.\u201d Momentum indicators such as the RSI (46) and MACD (negative but flattening) suggest bearish exhaustion.<\/p>\nInstitutional Staking and ETF Inflows Offer a Glimmer of Strength<\/strong><\/h2>\n