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. Summary 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. According to crypto.news price data, ETH traded near $2,269.89 during Sunday’s session, while Bitcoin price gained roughly 0.7% to $77,961. The recovery follows several difficult trading sessions that pushed Ethereum toward $2,200 after the October 29 Binance security breach. Ethereum’s advance has coincided with improving prices across the cryptocurrency market. However, continued institutional withdrawals and weak technical indicators suggest buyers have yet to establish a sustained recovery. Why is Ethere...