October 28, 2025 ETH market analysis: Price slightly falls by 1.08%, short-term support tested under institutional bullish and bearish divergence.

As of October 28, 2025, 16:47, the spot price of ETH is ¥29,400 (approximately $4,128.53), down 1.08% from the previous day, showing a trend of "slight decline after wide fluctuations."

From the intraday trading data, the volatility of ETH is significant, reaching a maximum of ¥30,100 within 24 hours, and a minimum of ¥29,000, with a range amplitude exceeding 3.7%; during the same period, the trading volume was 1089.24, with a transaction amount of ¥32,027,500, and a turnover rate of 4.48%, indicating that market trading activity remains at a moderate level. It is worth noting that short-term market conditions have shown signs of stabilization, with the price rebounding ¥53.49 within an hour, an increase of 0.18%, and the support level at ¥29,000 has not been effectively broken.

The market liquidity shows characteristics of "institutional long-short divergence." On one hand, the Ethereum treasury company BitMine continues to increase its holdings, acquiring over 77,000 ETH last week, with total holdings exceeding 3.31 million ETH, indicating that long-term institutions' recognition of ETH value is still on the rise; on the other hand, there has been a short-term withdrawal of funds from the Ethereum ETF market, with a single-day outflow of approximately $93 million, among which BlackRock sold $101 million worth of ETH, and some institutions have profit-taking demands at the current high levels.

According to technical analysis and derivative data, ETH is at a critical stage of "pullback testing support." After previously hitting a high of $4788, the price entered a retracement channel and is currently testing a key support platform. Although the MACD indicator has temporarily fallen into the bearish zone, the bearish momentum bars continue to shorten, indicating a reduction in bearish strength. The derivatives market is sending positive signals, with the major account long-to-short ratio on Binance, a leading global exchange, reaching 1.9895, and the long-to-short ratio for specific trading pairs even reaching 3.9734, suggesting that bullish sentiment still dominates among professional investors.

It should be specially reminded that the cryptocurrency market is influenced by multiple factors such as policies, funds, and technology, leading to severe price fluctuations and high uncertainty. All market data and analyses in this article are for informational reference only and do not constitute any investment decision advice. #eth