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Ethereum Updates Today: Ethereum Challenges $4,270—Will Upward Trend Persist or Is a Pullback Imminent?

Ethereum Updates Today: Ethereum Challenges $4,270—Will Upward Trend Persist or Is a Pullback Imminent?

Bitget-RWA2025/10/30 14:32
By:Bitget-RWA

- Ethereum approaches $4,270 resistance amid $522M global crypto liquidations, led by $124.6M ETH losses as "Machi Big Brother" whale unwinds positions. - MegaETH's oversubscribed $360M layer-2 ICO claims 100,000+ TPS, attracting 100,000+ participants with $7.2B hypothetical valuation. - Regulatory scrutiny intensifies with MEV bot fraud trial and ConsenSys IPO plans, while Fed rate uncertainty triggers $550M crypto ETF outflows. - Derivatives activity hits $560B volume on Binance, but 70.63% long position

Ethereum Price Outlook: ETH nears the $4,270 resistance as BitMine increases its holdings to 3.31 million ETH.>

The partial sell-off by the prominent

(ETH) investor known as "Machi Big Brother" has caught the market’s eye during a period of heightened crypto volatility. In the last day, global crypto liquidations hit $522 million, with Ethereum accounting for $124.6 million in losses, based on data from . This whale, who had built up substantial long positions, saw some of their assets liquidated as fluctuated near major resistance points. The largest single Ethereum liquidation on Hyperliquid reached $6.09 million, highlighting the vulnerability of leveraged trades during sharp market moves, as Coinotag observed.

Ethereum Updates Today: Ethereum Challenges $4,270—Will Upward Trend Persist or Is a Pullback Imminent? image 0

Ethereum’s price movements have been closely watched by both traders and analysts. The coin recently challenged the $4,270 resistance — a level it failed to surpass in October 2024 before dropping below $3,700, according to FXStreet. Technical signals like the Relative Strength Index (RSI) and Stochastic Oscillator point to continued bullishness, but also warn of overbought conditions that could prompt a short-term pullback. Meanwhile, Ethereum’s derivatives markets have seen a surge in activity, with Binance posting a record $560 billion in trading volume for October — the highest ever for ETH, as detailed in a

. Long positions make up 70.63% of the market, showing strong optimism even as open interest dipped by 4.28%, which many traders see as prudent profit-taking.

Regulatory and legal developments are adding further complexity to the market. The Ethereum MEV bot case, involving brothers accused of exploiting maximal extractable value (MEV) to divert $25 million, has ignited debate over the limits of blockchain innovation and legal responsibility, according to a

. Prosecutors have restricted discussion of broader crypto policy, focusing solely on fraud allegations related to transaction manipulation. In a separate development, Consensys — the company behind MetaMask and Infura — is moving forward with IPO plans, reportedly with guidance from JPMorgan and Goldman Sachs, as mentioned in an . With its infrastructure handling billions of daily requests, Consensys is well-positioned to benefit from Ethereum’s expanding use, regardless of price swings.

Market confidence is also being tested by uncertainty around the Federal Reserve. Outflows from ETFs tied to

and Ethereum reached $550 million in a single day after Fed Chair Jerome Powell signaled no additional rate cuts in 2025, according to a . Bitcoin ETFs alone saw $470.71 million in withdrawals, with Fidelity’s FBTC leading the way. Ethereum ETFs, though smaller, experienced $81.44 million in outflows, reflecting a shift to caution as investors brace for possible macroeconomic changes.

As the crypto sector contends with these overlapping challenges, the partial liquidation of Machi Big Brother stands as a warning about the risks of leverage in turbulent markets. While Ethereum’s core strengths — supported by layer-2 advancements and active derivatives trading — remain solid, the short-term outlook will likely be shaped by the interplay of regulatory, technical, and economic factors.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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