Why Is Ethereum Down? ETH Slides 13% in October as ETF Outflows and ICO Whale Selling Add Pressure

Ethereum is pinned near $2,352 on Oct. 27 — up 1.2% over the past 24 hours but down 13% since October began, per Binance market data. The coin scraped an intraday low of $2,297 before bids lifted it back above the $2,300 shelf that has caught every selloff since mid-month. That floor is holding for now, but the tape underneath it is thin. Three forces are doing the selling. Spot ether exchange-traded funds lost another $88.6 million on Oct. 26, led by BlackRock’s iShares Ethereum Trust.

Source: Blockchain Reporter