Why is Ethereum price up today as ETH targets $2,300 recovery?

Ethereum price has recovered above $2,250 on November 1, gaining 1.12% to almost $2,270 as Bitcoin approaches $78,000 following last week's crypto sell-off. Ethereum price has gained 1.12% to nearly $2,270 as Bitcoin recovers toward $78,000. ETH is recovering from October's losses despite five consecutive sessions of spot Ethereum ETF outflows. U.S. spot Ethereum ETFs recorded $431.4 million in weekly withdrawals, including $155.7 million on Friday. CryptoQuant data shows 43.8 million ETH staked, representing about 35.9% of Ethereum's circulating supply. Analysts are watching $2,250 support and $2,300 resistance, while funding rates point to increased short positioning.

Also reported by Coincu.

Source: crypto.news