Fidelity Buys $154.6M in Ethereum as Analysts Predict Move Toward New Highs Despite Outflows

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Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

Strict editorial policy that focuses on accuracy, relevance, and impartiality Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing The highest standards in reporting and publishing

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Ethereum (ETH) is back in the spotlight after Fidelity clients purchased roughly 36,460 ETH ($154.6 million), signaling renewed institutional demand even as spot ETH ETFs logged heavy redemptions.

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Before stabilizing around $4,100, the second-largest cryptocurrency briefly dipped below $4,000 this week, but several analysts argue the pullback places ETH in a key “buy zone” ahead of a potential push toward new highs.

ETH's price trends to the upside on the daily chart. Source: ETHUSD on Tradingview

Fidelity Steps In as ETFs See Redemptions

Fidelity Steps In as ETFs See RedemptionsFidelity’s reported buy spotlights a growing trend as traditional finance is steadily increasing exposure to Ethereum’s smart-contract ecosystem, staking yields, and tokenization upside.

The move contrasts with the latest ETF flow picture, where spot ETH products saw about $428 million in outflows in a single day, led by $310 million from BlackRock’s fund. While redemptions weighed on price near term, primary-market creations like Fidelity’s purchase can tighten available supply and stabilize spot liquidity.

Outflows and Liquidations Test Nerves

Outflows and Liquidations Test NervesMacro jitters and tariff headlines helped trigger a sharp selloff, sending ETH down 6.5% on Oct. 14 and sparking $145 million in liquidations in 24 hours, per derivatives trackers.

That forced unwinding pushed price through the $4,000 handle, but technicians note ETH is retesting prior resistance-turned-support and still carving a bullish flag structure on higher time frames.

Popular trader Michael van de Poppe argues ETH likely just needs a higher low to reassert momentum, eyeing a recovery toward $5,000 first and then $6,250 if buyers reclaim control.

Ethereum Price Outlook: Key Levels to Watch

Ethereum Price Outlook: Key Levels to WatchNear term, bulls want to see an Ethereum price balance back above $4,000–$4,211, followed by a decisive break of the $5,000 psychological level to unlock the $6,250 target many chartists flag via tools like Murrey Math and measured-move projections.

On the downside, traders are watching $3,626 as interim support; a daily close below $3,425 would dent the bullish structure and argue for deeper consolidation.

Despite headline outflows, the Fidelity inflow highlights sticky institutional interest in Ethereum’s role across DeFi, NFTs, and real-world asset tokenization, plus the structural tailwind from staking yields.

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If ETF redemptions cool and spot demand returns, ETH’s recent dip could prove a buy-the-pullback setup on the path toward new cycle highs.

Cover image from ChatGPT, ETHUSD on Tradingview