Ethereum Upgrade Hits Roadblock as BTC and ETH Plunge and $210M in Longs Get Wiped Out

• The Ethereum Glamsterdam Upgrade faces an Ethereum update delay over EIP-8037 compatibility concerns, as Bitcoin and Ethereum prices come under pressure
• More than $210 million in crypto long positions were liquidated in 12 hours as BTC fell toward $81,000 and ETH approached $2,300
• CoinCodex forecasts an Ethereum target of $4,587 for 2030, but price predictions remain uncertain and can change with market conditions

The Ethereum ecosystem is undergoing volatility and delays, as Ethereum’s Glamsterdam update has been delayed over gas accounting change concerns. At the same time, a spree of crypto liquidations has hit the Ethereum price, with more than $210M in crypto long positions being wiped out. This has led the Bitcoin and Ethereum prices to come under pressure, with BTC standing at $81K while ETH trades at around $2.3K.

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Ethereum Glamsterdam Update Delayed: What Happened?

The Ethereum Foundation announced a new update, stating how the Ethereum Glamsterdam Upgrade has been postponed on the Hoodi testnet. The update was originally scheduled to go live on October 26, but it has been postponed, with a new date yet to be announced. The primary reason for this delay has been attributed to the team wanting to investigate how EIP-8037’s gas accounting changes interact with smart contracts running on Ethereum mainnet.

This delay has also cancelled Hoodi’s planned gas limit increase to 200 million gas at the scheduled upgrade epoch.

The Ethereum Glamsterdam update intends to improve Ethereum’s scaling and block processing. The update includes an enshrined proposer-builder separation and block-level access lists. However, developers delayed the upgrade to ensure the proposed changes reach the mainnet smoothly and without causing additional issues.

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Bitcoin and Ethereum Longs Face Heavy Liquidations

This technical delay has come at a time when crypto market liquidations have hit a new high. More than $210M in Bitcoin and Ethereum longs have been liquidated, impacting their price as of late. Bitcoin fell sharply, dropping to hit $81K, while Ethereum stood at around $2.3K.

Long positions are trades that bet on the asset’s prices rising. When the market falls, exchanges can automatically close leveraged positions to limit further losses. Such a development usually ends up putting pressure on assets like Bitcoin and Ethereum, showing how quickly bullish positions can reverse trends.

What’s Ahead for Ethereum?

The Ethereum price has encountered a rough 2026, spending the majority of its month exploring new lows. According to CoinCodex, the Ethereum price target for November 2027 is $3,605. At the same time, CoinCodex predicts the Ethereum price target for 2030 to be around $4,587.

“Ethereum is forecasted to hit $2,331.22 by the end of 2026 (-3.03% compared to current rates), $4,693.01 by 2030 (+95.22%), $8,252.88 by 2040 (+243.31%), and $12,013 by 2050 (+399.73%).”

According to the crypto calculator tool on MarketCapOf, a $2,000 investment in ETH at a price of $2,401 may end up delivering a total value of approximately $3,820 if ETH hits $4,587. The potential profit would amount to approximately $1,820.57, representing a return of around 91.01%, before fees and taxes.

However, crypto markets remain volatile, so investors should carefully assess the risks before making investment decisions.

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