Ethereum faces bearish signals amid whale selling and fading Coinbase demand

Ethereum (ETH) is currently down 4.45% over the past week, trading at $2,503.76. Three bearish signals suggest sellers are gaining ground on buyers: exchange reserves rose from about 14.59 million ETH in late September to 14.93 million on October 14, whales are selling significant holdings—including an OTC whale selling 9,996 ETH worth about $25 million and Patricio Worthalter depositing 10,000 ETH into Gemini—and the Ethereum Coinbase Premium Index fell to about -0.1173, indicating weaker demand on Coinbase. Furthermore, US spot Ethereum ETFs posted outflows for 10 straight trading days through October 12, totaling about $782.6 million, with October net outflows near $695.4 million. ETH has fallen 6.47% since the start of October and trades about 49% below its August 24, 2025, all-time high of $4,946.05.