Ethereum · 2026-09-28

That day's trend: Neutral leaning bullish

That day's view: Open 2688.65 close 2688.71, essentially flat for the day -0.00%, H-L spread 85.73 USD wide range wash-out. Spot volume 291,824 ETH, up +4.8% vs 7d average of 278,453 ETH, flat. Funding 4-tenor mid-section flipped then rebounded in final leg: +0.003121 → -0.003065 → +0.005929 → +0.006984 +17.8%. OI 2,284,212 → 2,254,622 -1.30% position reduction, price flat + OI down + funding final leg rebound + taker final 0.90 sell-biased is short covering active variant. Whales and retail simultaneously reduced positions: top_pos_ls 1.655 → 1.530 -7.6% + top_acc_ls 1.586 → 1.449 -8.6% + retail_ls 2.755 → 2.595 -5.8%. Signal (c) short covering active variant. Key level 2688 USD as pivot, above 2721 below 2635 as 24h high/low; FGI 70 → 74 +4 synchronized uplift, 10/2 NFP as first high-impact shock point within window.

Key Data

ETH closing price: $2688.65 at UTC 2026-09-28 00:00, $2691.50 at UTC 2026-09-28 24:00, +0.00% within window
Intraday range: high $2721.42 / low $2635.69, spread $85.73 (3.19%)
24H total network volume: 291,824 ETH (~$779M)
Perpetual funding rate: 4-period average +0.00324% (09-28 00:00 +0.00312% / 09-28 08:00 -0.00307% / 09-28 16:00 +0.00593% / 09-29 00:00 +0.00698%)
Active taker buy/sell ratio: 24H average 1.0005, latest 0.9012
Long/short account ratio (retail): 24H average 2.6996, latest 2.5945
Whale position long/short ratio: 24H average 1.5692, latest 1.5298
Open interest (OI): 24h net -1.30%, currently 2,254,622 ETH
Perpetual basis: stable within -0.05% to +0.05% range
Fear & Greed Index: 74 (Neutral) on 2026-09-28

24H Market Recap

Phase · Early (UTC 00-06): Open $2688.65 → $2651.63, -1.38%, 6h volume 76,102 ETH
Phase · Late Morning (UTC 06-12): Open $2651.64 → $2669.00, +0.65%, 6h volume 73,131 ETH
Phase · Afternoon (UTC 12-18): Open $2668.99 → $2695.71, +1.00%, 6h volume 106,322 ETH
Phase · Closing (UTC 18-24): Open $2695.71 → $2688.71, -0.26%, 6h volume 36,268 ETH

Future Macro Calendar

🔴 2026-10-02 (Friday) · US September Non-Farm Payrolls (NFP) · Impact: High
🔴 2026-10-13 (Tuesday) · US September Consumer Price Index (CPI, YoY/MoM) · Impact: High
🟡 2026-10-15 (Thursday) · US September Producer Price Index (PPI) · Impact: Medium
🟡 2026-10-23 (Friday) · BTC October Options Expiry (Deribit) · Impact: Medium
🔴 2026-10-28 (Wednesday) · Fed October Rate Decision · Impact: High

Bull/Bear Battle

Phase 1 (UTC 00-06) single-phase sharp drop -1.38% + concentrated volume 76,102 ETH | Touched window low $2635.69, typical "negative event-triggered concentrated selling pressure" pattern
OI 24h net -1.30% simultaneous deleveraging across longs and shorts | OI net -29,590 ETH reduction, both sides actively reduced positions, typical deleveraging state
3.19% amplitude high volatility reflects intense bull/bear battle | 24h amplitude 3.19% hits recent high, price volatility up = position risk increased
Phase 3 (UTC 12-18) single-phase rebound +1.00% + volume 106,322 ETH | Touched window high $2721.42, typical "technical rebound after negative event" pattern
Whale position long/short ratio 24h average 1.57 institutions slightly bullish | Whale L/S 24h average 1.57 / closing 1.53, showing institutions maintained slightly bullish stance within window
Close at $2688.71 holds $2635.69-$2721.42 range | 24h price held within window range, did not break below lower boundary = short-term support valid