Ethereum traded at USD 2,702.06 on Oct. 4, up 0.74% over 24 hours, while Bitcoin gained 0.75%. ETH remained below resistance near USD 2,800 as investors tracked ETF flows and prepared for Ethereum’s Glamsterdam testnet upgrade on Oct. 6.
Ethereum’s daily rise closely followed Bitcoin’s performance. The similar gains point to a broader market advance, although the price movements alone cannot confirm the reason for buying. No clear Ethereum-specific catalyst emerged from the available market data.
ETH entered October after gaining approximately 32.6% in August and 8.8% in September. During September, the token climbed from roughly USD 2,398 in the middle of the month to USD 2,775 before returning toward USD 2,700.
Analyst Ted Pillows said Ethereum needs to recover USD 2,800 on a weekly closing basis to strengthen bullish momentum. His outlook depends on ETH reclaiming resistance rather than briefly trading above it during a session.
The October technical outlook identifies support around USD 2,560–USD 2,565. A sustained break above USD 2,800 would put USD 3,000 among the next potential targets. Losing support would bring the earlier USD 2,400–USD 2,500 trading range into focus.
Monthly indicators remain mixed. The TradingView chart shows the relative strength index at 51.53, above its average of 48.46. Meanwhile, the MACD line remains below its signal line, leaving the monthly chart without a bullish crossover.
According to SoSoValue figures cited in the ETF report, U.S. spot Ethereum funds attracted approximately USD 1.5 billion in net inflows during 2026. Bitcoin ETFs brought in approximately USD 985 million over the same period.
Bitcoin funds nevertheless held approximately USD 109 billion in total assets, compared with USD 18 billion for Ethereum funds. Annual net inflows measure new money entering funds after withdrawals, while total assets also reflect existing holdings and changes in cryptocurrency prices.
More recent Ethereum ETF activity showed withdrawals. Farside Investors recorded approximately USD 118 million in net outflows during Sept. 28–Oct. 2, following approximately USD 689.8 million in inflows during the previous week.
The funds lost USD 59.6 million on Sept. 30, USD 55.4 million on Oct. 1 and USD 17.3 million on Oct. 2. Earlier weekly activity partly offset the combined withdrawals from those three sessions.
Separately, Bitmine Immersion Technologies reported holdings of 6,001,302 ETH as of Sept. 27, representing approximately 4.9% of Ethereum’s supply. The company acquired 17,362 ETH during the preceding week, continuing its corporate treasury purchases.
The Ethereum Foundation has scheduled Glamsterdam’s activation on the Sepolia testnet for Oct. 6 at 13:53:36 UTC. Developers will test changes to block production, transaction processing and network fees before a later mainnet deployment.
The upgrade combines changes to Ethereum’s execution and consensus systems. Planned features give validators more time to check blocks and allow network software to perform parts of transaction validation simultaneously.
The Foundation said, “Hoodi and mainnet activation dates have not yet been decided.” Sepolia node operators must update both execution and consensus software before activation. Developers should test applications after the upgrade for changes affecting fees and software interfaces.
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