Why is Ethereum price falling today, October 29?

Ethereum price has fallen more than 2% to around $2,318 on October 29, as continued withdrawals from U.S. spot Ethereum exchange-traded funds (ETFs) have coincided with weakness across the crypto market. Summary Ethereum price fell 2.12% to $2,317.78 as selling continued across the cryptocurrency market. U.S. spot Ethereum ETFs recorded $21.41 million in reported net outflows on October 28. BlackRock’s ETHA recorded $44.83 million in withdrawals, outweighing inflows into competing funds. Ethereum’s MACD remained negative, while the 2,290–2,300 range offered immediate price support. Analysts identified $2,400 as a recovery level, with further losses possible if ETH breaks below $2,290. U.S. spot Ethereum ETFs recorded $21.41 million in reported net outflows on October 28, their third consecutive session of withdrawals, according to SoSoValue. BlackRock’s iShares Ethereum Trust (ETHA) accounted for $44.83 million in outflows, while inflows into other funds offset some of the losses. Meanwhile, the selling followed a difficult week for ETH, which briefly touched $2,293.44 before recovering above $2,300. Bitcoin declined 1.66% during the same 24-hour period, while the total cryptocurre...