Ethereum · 2026-09-22

That day's trend: Neutral leaning bearish

That day's view: Yesterday ETH opened at 2776 and closed at 2754 (-0.81%), intraday range 2716. Volume was 303,016 ETH, down 14.7% YoY from the 7-day average of 355,093, indicating mild contraction. Funding rate intraday went from 0.573% → 0.936% morning peak → 0.574% mid-session → 0.937% late-session rebound, contrasting with BTC's late-session funding plunge. Open interest dropped from 2,328,934 to 2,310,500 (-0.79%). Late-session taker buy pressure rose to 1.38. Price ↓ + OI ↓ + funding late-session rose instead of falling → (c) Short covering, late-session rebound momentum stronger than BTC. Greed index at 78 extreme greed. Short-term key levels: 2720, 2700. Watch 2800, and 9/25 BTC options expiration for β asset correlation.

Key Data

ETH closing price: UTC 2026-09-22 00:00 reported $2776.20, UTC 2026-09-22 24:00 reported $2751.04, -0.81% within the window
Intraday range: High $2777.55 / Low $2715.91, range $61.64 (2.22%)
24h whole-network trading volume: 303,016 ETH (approx. $832M)
Perpetual funding rate: 4-period average +0.00755% (09-22 00:00 +0.00573% / 09-22 08:00 +0.00936% / 09-22 16:00 +0.00573% / 09-23 00:00 +0.00937%)
Active taker buy/sell ratio: 24h average 0.9536, latest 1.3821
Long/short account ratio (retail): 24h average 2.4003, latest 2.4095
Large account position long/short ratio: 24h average 1.5083, latest 1.5262
Open interest (OI): 24h net -0.79%, currently 2,310,500 ETH
Perpetual basis: Stable within -0.05% to +0.05% range
Fear & greed index: 2026-09-22 reported 78 (Extreme Greed)

24H Market Recap

Phase · Early (UTC 00-06): Opened $2776.20 → $2733.54, -1.54%, 6h volume 78,905 ETH
Phase · Morning (UTC 06-12): Opened $2733.55 → $2742.60, +0.33%, 6h volume 57,511 ETH
Phase · Afternoon (UTC 12-18): Opened $2742.59 → $2753.90, +0.41%, 6h volume 94,478 ETH
Phase · Close (UTC 18-24): Opened $2753.91 → $2753.63, -0.01%, 6h volume 72,122 ETH

Future Macro Calendar

🟡 2026-09-25 (Fri) · BTC September options expiration (Deribit) · Impact: Medium

Long/Short Game

Phase 1 (UTC 00-06) single-phase sharp drop -1.54% + concentrated volume 78,905 ETH | Touched window low $2715.91, typical "selling pressure concentrated after negative event" pattern
OI 24h net -0.79% close to neutral | OI net -18,434 ETH, capital did not significantly exit but also did not actively build positions
Active sell side 24h average 0.9536 < 1.0 sell dominant | Taker persistently seller-dominant, though late-session 1.3821 buy side returned but price did not show effective rebound
Phase 3 (UTC 12-18) single-phase rebound +0.41% + volume 94,478 ETH | Touched window high $2777.55, typical "technical rebound after negative event" pattern
Large account position L/S ratio 24h average 1.51 institutions mildly bullish | Large account L/S 24h average 1.51 / late-session 1.53, showing institutions maintained mildly bullish stance within the window
Active buy side late-session 1.3821 > 1.0 buy side returned | Late-session taker buy side returned, showing market has buy support near $2715.91