Key takeaways
- Ethereum briefly falls below $2,300 before recovering
- Developers postpone Glamsterdam testing over smart contract concerns
- ETF withdrawals complicate Ethereum's potential recovery toward $2,500
Ethereum is facing renewed uncertainty after its price briefly dropped below $2,300 over the weekend, just as developers postponed an important test of the blockchain's next major upgrade.
ETH fell to approximately $2,285 on October 24 before recovering toward $2,360 on Sunday. The cryptocurrency remains roughly 12% below its early-October levels, with buyers struggling to establish a convincing recovery above $2,400.
The latest development adds another question to Ethereum's outlook: could delays to its scaling roadmap affect investor sentiment while institutional demand remains weak?
Ethereum's Glamsterdam Upgrade Hits Unexpected Delay
The Ethereum Foundation confirmed on October 22 that the Glamsterdam upgrade's planned October 26 activation on the Hoodi testnet has been postponed.
According to the official announcement, developers need additional time to investigate interactions between EIP-8037 and existing Ethereum smart contracts.
The decision also postpones a planned increase in Hoodi's gas limit to 200 million. Developers have not announced a replacement activation date.
Importantly, this is a testnet delay rather than a disruption to Ethereum's live blockchain. The Foundation has not established a new mainnet timeline, and existing ETH holders do not need to take action.
The postponement follows a period of optimism about Ethereum's next scaling improvements.
Coinpaper's earlier Glamsterdam coverage examined how the planned test could strengthen confidence in Ethereum's development roadmap.
However, development progress does not guarantee stronger ETH prices, and no direct causal connection between the postponement and this weekend's selloff has been established.
Ethereum ETF Outflows Keep Pressure on ETH Price
Institutional demand provides another explanation for Ethereum's recent weakness.
According to Farside Investors, U.S. spot Ethereum ETFs recorded $110.6 million in net withdrawals on October 22, followed by a modest $4.4 million inflow on October 23.
Despite Friday's improvement, the funds lost approximately $220.7 million over the five trading sessions ending October 23.
The contrast suggests institutional demand remains inconsistent rather than decisively recovering.
Earlier ETF selling pressure had already complicated Ethereum's attempts to reclaim $2,500.
Meanwhile, BitMine's accumulation strategy offers a longer-term bullish argument, although corporate purchases have not prevented the recent correction.
Ethereum Price Prediction: Can ETH Reclaim $2,500?
Ethereum's immediate technical challenge is recovering above $2,400 after Saturday's brief decline toward $2,285.
Holding above $2,300 would help stabilize sentiment, while a sustained breakout above $2,400 could bring the $2,480–$2,500 resistance area back into focus.
A move from $2,360 to $2,500 would represent approximately 5.9% upside.
Beyond that, $2,550–$2,600 becomes a conditional recovery target, although buyers would need stronger momentum and more consistent institutional demand.
The bearish scenario becomes more concerning if Ethereum loses $2,285 and fails to recover.
That could expose $2,200, followed by the psychologically important $2,000 region during a broader market downturn.
Coinpaper's recent downside analysis highlighted the risks of losing the $2,300 region, while an earlier institutional forecast placed Ethereum considerably higher over a 12-month horizon.'
