Summary: Ether (ETH) rebounded sharply on Monday. At press time, ETH trades around $3,608.76, up about 6.4% over the past 24 hours, with an intraday range of $3,391–$3,648. The bounce comes despite last week’s heavy redemptions from U.S. spot Ethereum ETFs and as broader risk appetite improves to start the week. Looking ahead, Ethereum’s Fusaka network upgrade is locked in for December 3, a near‑term catalyst that will raise blob throughput via staged “BPO” forks and introduce several protocol tweaks. [1]
Ethereum price snapshot — Monday, Nov 10, 2025
- Spot price:$3,608.76
- 24h change:+6.4%
- Day’s range:$3,391.14 – $3,647.80
Figures are based on live market data at the time of writing.
What moved ETH today
1) Sentiment stabilizes after last week’s ETF outflows.
Despite a bruising week for crypto ETPs—$1.17B in aggregate outflows with ~$438M from Ether products—markets opened firmer on Monday and ETH rallied. A separate dataset tracking U.S. spot ETFs shows ~$508M net outflows from Ether funds last week, the third‑largest weekly redemption on record. The mix of risk reduction and subsequent bargain‑hunting helps explain why price can rise even as fund flows were negative. [2]
2) Risk appetite improves to start the week.
Macro desks flagged a brighter tone across risk assets on Monday. Saxo’s “Market Quick Take” cited firmer sentiment with Ethereum near $3,610 alongside gains in ETF proxies (IBIT, ETHA), underscoring that crypto is trading with the broader risk backdrop heading into U.S. CPI. [3]
3) Near‑term crypto flows were challenging but mixed by day.
Daily flow trackers show that after a string of redemptions earlier in the week, Nov 6 saw modest net inflows into U.S. spot ETH ETFs before conditions tightened again—evidence of two‑way demand as markets recalibrate. [4]
4) Derivatives positioning tilts mildly bullish.
Perpetuals funding is slightly positive (around +0.003% over the latest 8‑hour window), indicating a modest long bias but not excessive leverage—consistent with a constructive yet cautious bounce. [5]
The bigger picture: where ETH stands now
- Distance from ATH: ETH is still below its late‑August record near $4,946, leaving room for upside if macro and flows turn more supportive. Monday’s rally trims some of that gap but keeps ETH well under its summer peak. [6]
- Upgrade countdown (catalyst): The Fusaka mainnet upgrade is scheduled for Dec 3, 2025 at 21:49:11 UTC. Alongside client releases, Fusaka sets the stage for Blob Parameter Only (BPO) forks that will increase blob capacity in two steps (target 10/max 15 blobs per block in BPO1 on Dec 9; target 14/max 21 in BPO2 on Jan 7). It also includes items like EIP‑7951 (secp256r1 precompile), EIP‑7939 (CLZ opcode), EIP‑7935 (default gas limit to 60M), and ancillary execution/consensus updates. These changes keep scaling momentum going after this year’s upgrades and should gradually lower data costs for L2s as blob throughput rises. [7]
- Flows vs. price: The juxtaposition of weekly ETF outflows with today’s price rise reflects a common pattern in maturing markets: flows can lag price turns, and discretionary traders often step in ahead of flow reversals. CoinDesk’s Monday read across ETFs (BTC and ETH) plus CoinShares’ weekly report capture that divergence. [8]
Key intraday levels to watch
- Immediate resistance:$3,650–$3,700 (aligned with Monday’s high and a round‑number zone that capped rallies in early trade). A decisive close above opens a path toward $3,800 and the psychological $4,000 handle.
- Near‑term support:$3,500 (psychological) and $3,390–$3,400 (Monday’s low zone). A break back below would warn the bounce is fading and refocus traders on last week’s troughs.
These levels are derived from current session price action and commonly watched round numbers; they are not financial advice.
What to watch next
- ETF flow inflection: After last week’s redemptions, investors will be gauging whether U.S. spot ETH ETFs see a sustained return to net inflows this week. A steady turn back to positive flows has historically coincided with stronger trend extension. [9]
- Macro calendar: With U.S. CPI due later this week, any surprise on inflation could quickly shift risk appetite and funding conditions—important for assets like ETH that trade tightly with broader risk sentiment. [10]
- Fusaka execution: Node/operator readiness and the initial BPO1 fork in December will be monitored closely by traders looking for confirmation that blob throughput—and ultimately L2 data capacity—can ratchet higher without disruption. Successful milestones could support the medium‑term investment case. [11]
Methodology & sources
- Price & intraday stats come from live market data (spot price, % change, and session high/low).
- Fund‑flow context references CoinShares’ weekly ETP report (published today) and CoinDesk’s Nov 10 market coverage summarizing SoSoValue’s ETF dashboard, which shows ~$508M weekly net outflows from ETH spot ETFs. Farside’s daily table corroborates the pattern of heavy redemptions earlier in the week with modest inflows later. [12]
- Macro tone and the linkage to crypto risk appetite draw on Saxo’s “Market Quick Take – 10 November 2025.” [13]
- Protocol roadmap details (timing, BPO schedule, and included EIPs) are taken from the Ethereum Foundation’s Fusaka Mainnet Announcement. [14]
- Derivatives positioning (perpetuals funding) is summarized from Coinglass data as reported by RootData today. [15]
Bottom line
ETH’s +6% rebound to roughly $3.6K kicks off the week on a constructive note, even as last week’s fund data painted a cautious picture. Near term, traders will watch for an ETF flow turn and for Fusaka milestones to land on time—both could be incremental tailwinds into year‑end if macro cooperates. [16]
This article is for informational purposes only and does not constitute investment advice.
References
1. www.home.saxo, 2. researchblog.coinshares.com, 3. www.home.saxo, 4. farside.co.uk, 5. www.rootdata.com, 6. www.axios.com, 7. blog.ethereum.org, 8. www.coindesk.com, 9. farside.co.uk, 10. www.home.saxo, 11. blog.ethereum.org, 12. researchblog.coinshares.com, 13. www.home.saxo, 14. blog.ethereum.org, 15. www.rootdata.com, 16. www.coindesk.com
