Ethereum · 2026-09-23

That day's trend: Neutral leaning bearish

That day's view: ETH 9/23 close at 2684.71 (O 2753.63 / H 2789.00 / L 2635.39), 24h -2.50%, -0.81% decline vs 9/22, decline widened but slightly stronger than BTC. Volume 7d YoY -1.0% flat, OI slightly down -0.55%, significantly weaker than BTC -7.70%. Funding first period 0.009373 last period 0.005263, down -44% (weaker than BTC's -87% collapse), last period 5.26bp/8h still significantly positive. Retail-large account long buildup rising in sync (retail_ls last period 2.78 / top_acc_ls 1.65 new highs), taker last period 0.73 selling weaker than BTC. P62: (c-mix) Short covering + retail/large account counter-position accumulation, after 9/22 active short covering, new longs mixed in during secondary pressure, downward slope cushioned by buying. FGI 78→71 (-7) cooled in sync with BTC, short-term sentiment recovery slower than first day post-FOMC. Key levels: resistance 2789, support 2635 already tested, below 2600 is 9/17 platform; watch 9/25 Deribit options expiration catalyst.

Key Data

ETH closing price: UTC 2026-09-23 00:00 at $2753.63, UTC 2026-09-23 24:00 at $2686.87, window -2.50%
Intraday range: High $2789.00 / Low $2635.39, range $153.61 (5.58%)
24-hour network-wide volume: 331,711 ETH (~$899M)
Perpetual funding rate: 4-period average +0.00590% (09-23 00:00 +0.00937% / 09-23 08:00 +0.00446% / 09-23 16:00 +0.00450% / 09-24 00:00 +0.00526%)
Active taker buy/sell ratio: 24-hour average 1.0155, latest 0.7310
Long/short account ratio (retail): 24-hour average 2.5875, latest 2.7779
Large account long/short ratio: 24-hour average 1.5297, latest 1.5371
Open Interest (OI): 24h net -0.55%, currently 2,297,741 ETH
Perpetual basis: Stable in -0.05% to +0.05% range
Fear & Greed Index: 2026-09-23 at 71 (Neutral)

24H Market Recap

Phase · Early (UTC 00-06): Open $2753.63 → $2757.80, +0.15%, 6h volume 63,739 ETH.
Phase · Late morning (UTC 06-12): Open $2757.80 → $2727.96, -1.08%, 6h volume 66,553 ETH.
Phase · Afternoon (UTC 12-18): Open $2727.95 → $2668.03, -2.20%, 6h volume 159,809 ETH.
Phase · Closing (UTC 18-24): Open $2668.02 → $2684.71, +0.63%, 6h volume 41,611 ETH.

Upcoming Macro Calendar

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

Long/Short Battle

Phase 3 (UTC 12-18) single-phase sharp drop -2.20% + concentrated volume 159,809 ETH | Hit window low $2635.39, typical "concentrated selling triggered by bearish event" pattern
OI 24h net -0.55% near neutral | OI net -12,759 ETH, funds not significantly departing but not actively building positions either
Range 5.58% high volatility reflects intense long/short battle | 24h range 5.58% hit recent high, price volatility rising = position risk increasing
Phase 4 (UTC 18-24) single-phase rebound +0.63% + volume 41,611 ETH | Hit window high $2789.00, typical "technical rebound after bearish event" pattern
Large account long/short ratio 24h average 1.53 institutional mild bullish | Large account L/S 24h average 1.53 / closing 1.54, showing institutions maintaining mild bullish stance within window
Close at $2684.71 held within $2635.39-$2789.00 range | 24h price held within window range, didn't break below lower boundary = short-term support valid