Ethereum Navigates Critical Support Test Amid Bearish Pressure
Ethereum (ETH) is currently experiencing significant bearish pressure, trading around $3,710 after declining 4.5% in the past 24 hours. The cryptocurrency has failed to maintain its position above the crucial $3,800 level and is now retesting the $3,715 support zone, a critical price point that has consistently influenced market sentiment since October 2023. Technical indicators are showing concerning signals, with both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicating diminishing bullish momentum. Market analysts are closely monitoring the $3,680 level, as a decisive break below this support could potentially trigger further declines toward the $3,500 range. Despite the current bearish sentiment, the article notes underlying signs of accumulation, suggesting that some investors may be viewing these lower price levels as buying opportunities. The current market conditions present a crucial test for Ethereum's medium-term trajectory, with the outcome likely to determine whether the asset can regain its upward momentum or face extended consolidation. As of November 4, 2025, traders and investors are watching these key technical levels closely, with the $3,715 support zone serving as a critical battleground between bullish and bearish forces in the Ethereum market.
Ethereum Faces Bearish Pressure Amid Signs of Accumulation
Ethereum (ETH) continues to grapple with bearish momentum, trading NEAR $3,710 after a 4.5% decline over the past day. The asset faltered below the $3,800 threshold, retesting the $3,715 support zone—a critical level that has repeatedly dictated market sentiment since October. Technical indicators like the RSI and MACD reflect waning bullish momentum, with a close below $3,680 potentially triggering further declines toward $3,500.
Paradoxically, on-chain data reveals a $600 million outflow of ETH from exchanges this week, signaling accumulation as investors shift holdings to cold storage. The broader chart structure hints at a bullish reversal, forming a falling wedge pattern—a classic setup preceding upward breakouts. Resistance levels at $3,920 and $4,000 remain key targets should buyers regain control.
Mysterious Whale Accumulates $52.47 Million in Ethereum Amid Market Dip
A pseudonymous crypto whale known as '7 Siblings' seized the opportunity of Ethereum's price drop to $3,681, purchasing 14,254 ETH for $52.47 million. The transaction, flagged by Lookonchain via DeBank data, underscores aggressive accumulation during bearish conditions.
The whale has consistently bought ETH at every major dip in 2025, including a February purchase of 45,047 ETH at $2,480 and an October acquisition of 1,326 ETH at $3,771 using borrowed funds from AAVE. Current holdings remain profitable despite ETH's slight retreat to $3,631.
Ethereum continues to attract institutional and retail interest as a blue-chip crypto asset, contrasting with struggling altcoins. The whale's identity—whether individual or entity—remains unknown, but the scale of transactions suggests sophisticated capital deployment.
Balancer Hacker Exposed: AI Debug Logs Reveal $116M DeFi Breach
New evidence suggests artificial intelligence may have played a role in one of DeFi's largest heists. The Balancer attacker allegedly left behind AI-generated debugging traces in the exploit code that drained $116 million from the platform's V2 vault.
Blockchain researcher @AdiFlips identified unusual console.log messages like "Done with amts1" in the attack script—a hallmark of AI-assisted coding. Professional hackers typically remove such fingerprints, fueling speculation about ChatGPT or similar tools being used to craft the exploit.
The breach escalated rapidly on November 3, with initial thefts of $70.9 million in WETH, osETH, and WSTETH eventually ballooning to $116 million. The incident raises existential questions about AI's dual-use potential in cryptocurrency security.
Vitalik Buterin Proposes Eliminating Key Ethereum Feature to Enhance Scaling
Ethereum co-founder Vitalik Buterin has called for the removal of the modular exponentiation precompile (modexp), a feature he originally designed, citing its inefficiency in zero-knowledge proof generation. The feature reportedly creates verification bottlenecks up to 50 times worse than average blocks, hindering Ethereum's scaling ambitions.
Buterin acknowledged his role in creating the problematic feature, stating it exposes the ecosystem to consensus failure risks. He advocates replacing it with computationally equivalent code, which WOULD increase gas costs but significantly reduce proof generation complexity.
The proposal aligns with Ethereum's push toward a privacy-first infrastructure and the adoption of zero-knowledge ethereum Virtual Machine (zkEVM) technology. zkEVMs enable faster transaction processing by validating computations off-chain without compromising security.
