Ethereum · 2026-09-25
That day's view: Yesterday's price opened at 2688.06 and closed at 2691.61, spiking to 2743.00 intraday before retracing to 2667.33, up 0.13% over 24 hours with H-L amplitude of 75.67 USD maintaining wide range; volume at 234,698 ETH shrank significantly by 31.1% compared to the 7-day average of 340,685, thin trading but price stabilized. Average funding rate +0.00451% moderately bullish, four tenors monotonically climbed from +0.002767% to the final +0.006606%, 2.39x increase without any reversal throughout - a textbook structure of short covering driving funding upward. Open interest slightly decreased from 2,269,583 to 2,265,004 by 0.20%, whale long/short ratio increased from 1.550 to 1.675 by 8.1%, account long/short ratio micro-upgraded from 1.524 to 1.544, clear counter-trend long accumulation signal; retail taker buying at 0.695 still sell-dominated, sellers primarily short covering rather than long stop-losses. Comprehensive judgment (c-mix): short covering + large account reverse accumulation. FGI 71 unchanged from previous day at Greed level. Key levels: 2667 support and 2743 resistance; today's Deribit BTC options expiry may amplify ETH correlation volatility, monitor ETF fund flow sustainability.
Key Data
- ETH closing price: UTC 2026-09-25 00:00 reported $2688.06, UTC 2026-09-25 24:00 reported $2692.03, +0.13% within the window
- Intraday range: High $2743.00 / Low $2667.33, amplitude $75.67 (2.82%)
- 24H total network volume: 234,698 ETH (~$632M)
- Perpetual funding rate: four-period average +0.00451% (09-25 00:00 +0.00277% / 09-25 08:00 +0.00374% / 09-25 16:00 +0.00492% / 09-26 00:00 +0.00661%)
- Active taker buy/sell ratio: 24H average 0.9674, latest 0.6951
- Long/short account ratio (retail): 24H average 2.6732, latest 2.7051
- Whale position long/short ratio: 24H average 1.6035, latest 1.6755
- Open interest (OI): 24h net -0.20%, currently reported 2,265,004 ETH
- Perpetual basis: stable within -0.05% to +0.05% range
- Fear & Greed Index: 71 reported on 2026-09-25 (Neutral)
24H Market Recap
- Phase · Early (UTC 00-06): Opened $2688.06 → $2679.94, -0.30%, 6h volume 35,236 ETH.
- Phase · Late morning (UTC 06-12): Opened $2679.94 → $2717.53, +1.40%, 6h volume 75,136 ETH.
- Phase · Afternoon (UTC 12-18): Opened $2717.53 → $2685.91, -1.16%, 6h volume 98,118 ETH.
- Phase · Close (UTC 18-24): Opened $2685.91 → $2691.61, +0.21%, 6h volume 26,208 ETH.
Upcoming Macro Calendar
- 🟡 2026-09-25 (Fri) · BTC September options expiry (Deribit) · Impact: Medium
Long/Short Game
- Phase 3 (UTC 12-18) single-phase sharp drop -1.16% + concentrated volume 98,118 ETH | Touched session low $2667.33, typical "concentrated selling pressure triggered by negative catalyst" pattern
- OI 24h net -0.20% near neutral | OI net -4,579 ETH, capital did not significantly exit but also did not actively build positions
- Active sell volume 24h average 0.9674 < 1.0 sell-dominated | Taker consistently seller-advantaged, though late session 0.6951 buying returned, price failed to show effective rebound
- Phase 2 (UTC 06-12) single-phase rebound +1.40% + volume 75,136 ETH | Touched session high $2743.00, typical "technical rebound after negative catalyst" pattern
- Whale position long/short ratio 24h average 1.60 institutional mildly bullish | Whale L/S 24h average 1.60 / closing 1.68, showing institutions maintained mildly bullish stance within the window
- Close at $2691.61 held $2667.33-$2743.00 range | 24h price stayed within the window range, did not break below the lower boundary = short-term support effective