Can ETH follow BTC’s footsteps and register a new historic peak this month?
}
function loadTrinityPlayer(targetWrapper, theme,extras=””) {
cleanupPlayer(targetWrapper); // Always clean first ✅
targetWrapper.classList.add(‘played’);
// Create script
const scriptEl = document.createElement(“script”);
scriptEl.setAttribute(“fetchpriority”, “high”);
scriptEl.setAttribute(“charset”, “UTF-8”);
const scriptURL = new URL(`https://trinitymedia.ai/player/trinity/2900019254/?themeAppearance=${theme}${extras}`);
scriptURL.searchParams.set(“pageURL”, window.location.href);
scriptEl.src = scriptURL.toString();
// Insert player
const placeholder = targetWrapper.querySelector(“.add-before-this”);
placeholder.parentNode.insertBefore(scriptEl, placeholder.nextSibling);
}
function getTheme() {
return document.body.classList.contains(“dark”) ? “dark” : “light”;
}
// Initial Load for Desktop
if (window.innerWidth > 768) {
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper, getTheme(),’&autoplay=1′);
});
}
}
// Mobile Button Click
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper, getTheme(),’&autoplay=1′);
});
}
function reInitButton(container,html){
container.innerHTML = ” + html;
}
// Theme switcher
const destroyButton = document.getElementById(“checkbox”);
if (destroyButton) {
destroyButton.addEventListener(“click”, () => {
setTimeout(() => {
const theme = getTheme();
if (window.innerWidth > 768) {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if(desktopWrapper.classList.contains(‘played’)){
loadTrinityPlayer(desktopWrapper, theme,’&autoplay=1′);
}else{
reInitButton(desktopWrapper,’‘)
const desktopBtn = document.getElementById(“desktopPlayBtn”);
if (desktopBtn) {
desktopBtn.addEventListener(“click”, function () {
const desktopWrapper = document.querySelector(“.desktop-player-wrapper.trinity-player-iframe-wrapper”);
if (desktopWrapper) loadTrinityPlayer(desktopWrapper,theme,’&autoplay=1’);
});
}
}
} else {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if(mobileWrapper.classList.contains(‘played’)){
loadTrinityPlayer(mobileWrapper, theme,’&autoplay=1′);
}else{
const mobileBtn = document.getElementById(“mobilePlayBtn”);
if (mobileBtn) {
mobileBtn.addEventListener(“click”, function () {
const mobileWrapper = document.querySelector(“.mobile-player-wrapper.trinity-player-iframe-wrapper”);
if (mobileWrapper) loadTrinityPlayer(mobileWrapper,theme,’&autoplay=1′);
});
}
}
}
}, 100);
});
}
})();
Ethereum (ETH) has registered a 10% price increase in the past week but remains below its historic peak of almost $5,000.
Three key indicators suggest it may reach and even surpass that milestone in the short term.
The Bullish Scenario
The popular X user Ali Martinez revealed that whales have acquired 800,000 ETH over the past week. The stash exceeds $3.6 billion, and this cohort of investors now holds 31.17 million tokens, representing 25% of the asset’s circulating supply.
Numerous users commenting on the post argued that a buying wave of this magnitude is rarely random and often signals that smart money is positioning for a potential rally ahead. Others speculated that the whales might “know something we don’t,” which could explain their recent efforts.
From an economic standpoint, accumulating such a vast amount of tokens reduces the available supply on the open market. When this limited supply meets steady or growing demand, it naturally sets the stage for a potential price surge.
The second factor is the increased interest in spot ETH ETFs. Those products have attracted over $1 billion in capital since the beginning of the month, signaling that institutional investors are steadily increasing their exposure to the asset.
Let’s now take a look at the amount of ETH stored on crypto exchanges. The figure recently plummeted to a nine-year low of around 16.1 million coins, indicating that investors are less likely to cash out and seek profits, and instead move their holdings to self-custody methods. This results in reduced selling pressure.
You may also like:
Something for the Bears
Contrary to the overall enthusiasm across the crypto community and the aforementioned factors that suggest ETH might be on the verge of a major pump, some elements are hinting at a possible pullback.
Earlier today (October 6), Ali Martinez claimed that the TD Sequential has flashed a sell signal at a key resistance of a little over $4,500. He believes a rejection at that point could be followed by a drop to $4,100 or even $3,780.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Source: https://cryptopotato.com/3-reasons-why-ethereum-eth-could-hit-a-new-ath-this-uptober/