Ethereum · 2026-09-21
That day's view: Data Trend: ETH surged 4.95%, intraday breaking through 2645 to close at 2776, hitting a high of 2807 and a low of 2643, showing stronger elasticity than BTC. Volume YoY: Trading volume of 573,090 ETH surged 76.9% compared to the 7-day average of 323,997, confirming the trend with explosive volume. Funding: Average rate at 0.78720% jumped 22.2% from the previous day's 0.64405%, intraday tenor shows rate rising from 0.00817 to 0.00894 before falling back to 0.00573; after price broke through 2750, funding rate cooled instead—typical mid-to-late squeeze characteristics. OI for Nature: Positions decreased from 2,346,234 to 2,328,934, down 0.74%; price rose with explosive volume while open interest declined, confirming (b) short squeeze. FGI at 70 correlated with BTC; on 9/22 it rose to 78 Extreme Greed, short-term sentiment extreme risk rising. Comprehensive Assessment: ETH remains in a strong squeeze phase short-term, key support at 2,643, resistance at 2,807; watch for 9/25 BTC+ETH option expiry and spot ETF fund flows.
Key Data
- ETH closing price: $2,645.21 at UTC 2026-09-21 00:00, $2,770.39 at UTC 2026-09-21 24:00, +4.95% within window
- Intraday range: High $2,807.34 / Low $2,643.71, range $163.63 (6.19%)
- 24H whole-network trading volume: 573,090 ETH (~$1.56B)
- Perpetual funding rate: 4-period average +0.00787% (09-21 00:00 +0.00817% / 09-21 08:00 +0.00866% / 09-21 16:00 +0.00894% / 09-22 00:00 +0.00573%)
- Active buyer/seller ratio: 24H average 1.0322, latest 0.9992
- Long/short account ratio (retail): 24H average 2.2884, latest 2.3300
- Large account long/short ratio: 24H average 1.5358, latest 1.5376
- Open interest (OI): 24H net -0.74%, currently 2,328,934 ETH
- Perpetual basis: Stable in -0.05% to +0.05% range
- Fear & Greed Index: 70 (Neutral) on 2026-09-21
24H Market Recap
- Phase · Early (UTC 00-06): Opened $2,645.21 → $2,665.41, +0.76%, 6H volume 114,935 ETH.
- Phase · Early-Late (UTC 06-12): Opened $2,665.41 → $2,725.38, +2.25%, 6H volume 183,564 ETH.
- Phase · Afternoon (UTC 12-18): Opened $2,725.38 → $2,743.26, +0.66%, 6H volume 169,020 ETH.
- Phase · Close (UTC 18-24): Opened $2,743.26 → $2,776.19, +1.20%, 6H volume 105,571 ETH.
Upcoming Macro Calendar
- 🟡 2026-09-25 (Fri) · BTC September Options Expiry (Deribit) · Impact: Medium
Long/Short Battle
- Phase 3 (UTC 12-18) single-phase spike +0.66% + concentrated volume 169,020 ETH | Hit window low $2,643.71, typical "concentrated selling pressure triggered by negative event" pattern
- OI 24H net -0.74% near neutral | OI net -17,299 ETH, funds not significantly departing but not actively building positions either
- Range 6.19% high volatility reflecting intense long/short battle | 24H range 6.19% hitting recent high, price volatility rising = position risk increasing
- Phase 2 (UTC 06-12) single-phase rebound +2.25% + volume 183,564 ETH | Hit window high $2,807.34, typical "technical rebound after negative event" pattern
- Large account long/short ratio 24H average 1.54 institutions slightly bullish | Large account L/S 24H average 1.54 / end 1.54, showing institutions maintaining slightly bullish stance within window
- Close at $2,776.19 holding $2,643.71-$2,807.34 range | 24H price held within window range, didn't break below lower boundary = short-term support valid