Ethereum has become the focus of crypto market attention as Bitcoin and XRP face growing bearish sentiment. According to data from Santiment, Ethereum commands a 2.05 bullish-to-bearish comment ratio across social media platforms including X, Reddit, and Telegram, positioning it as the largest altcoin by market capitalization.
Bitcoin's sentiment has deteriorated significantly, with its bullish-to-bearish ratio dropping to 0.82. The cryptocurrency has experienced repeated rejection near $87,000, a dip toward $81,000, and substantial long liquidations that have weighed on investor confidence. XRP similarly faces pressure with a sentiment ratio of 0.92, having declined more than 9% over the past week while struggling to reclaim the $1.40 level.
Analyst Crypto Patel has outlined an ambitious long-term target of $15,000 for Ethereum during the current bull cycle, identifying the $1,600 to $2,000 range as a potential re-accumulation zone. According to the analysis, intermediate targets exist at $3,270, $4,892, and $10,000, with a confirmed breakout above $4,892 potentially opening a broader rally if key support levels hold.
Spot Ethereum ETFs showed signs of stabilization on October 13th with $24.84 million in net inflows, marking their only positive day after ten consecutive days of withdrawals. Grayscale's ETH fund led the gains with $16.3 million, while Fidelity's FETH added $8.11 million. However, the rebound has done little to offset the broader outflow trend, with Ethereum ETFs recording approximately $695 million in net outflows for October.
Spot Bitcoin ETFs collectively attracted $175.6 million during the same period, while XRP funds recorded no flows over three consecutive days.
