Ethereum just flashed the same exchange-outflow signal that preceded June’s rebound. Roughly 169,770 ETH left exchanges, tightening immediately available sell-side supply.

  • The outflow was ETH’s largest in over four months.
  • US spot Ethereum funds lost $1.18B across 14 of 16 October sessions.
  • ETH must reclaim $2,500; losing $2,330 weakens the setup.

LaunchBar take: supply is tightening, but demand remains the missing catalyst. A sustained move above $2,400–$2,500 could force sidelined buyers back in; below $2,330, patience beats catching a falling knife.